Jio Platforms, the digital arm of Reliance Industries Limited, has stepped into the cryptocurrency market with the launch of JioCoin, a blockchain-based token integrated into its JioSphere web browser. Built on Ethereum Layer 2 and listed on Polygon Labs, JioCoin marks a major step in Jio's Web3 journey.
According to Aishwary Gupta, Polygon Labs' global payments head, the JioSphere browser now features a native wallet powered by Polygon’s Proof of Stake (PoS) technology, where JioCoins can be securely stored. Users can earn these Web3 coins by simply browsing the internet on JioSphere, with plans to expand rewards to JioCinema and MyJio users. Desktop users are also expected to gain access to these features soon.
JioCoin highlights a broader collaboration between Jio Platforms and Polygon Labs, announced last week, to integrate Web3 capabilities across Jio's digital services. This partnership aims to enhance the user experience for Jio’s extensive base of over 450 million customers by leveraging Polygon's advanced blockchain solutions.
Kiran Thomas, CEO of Jio Platforms, expressed enthusiasm about this milestone, emphasizing the potential to deliver innovative digital experiences through Web3 technologies. While an official statement from Reliance is pending, early signs suggest that JioCoin will play a pivotal role in Jio’s digital ecosystem.
With blockchain's transformative potential and Jio’s scale, this initiative could redefine how users interact with the internet, positioning Reliance as a major player in India’s Web3 space.
