In early January 2025, Polygon Labs announced a partnership with Reliance Jio, India’s largest telecom company. The company said Jio would begin using the Polygon PoS blockchain to add Web3 features to selected apps and services. With more than 450 million users, this was seen as one of the biggest Web3 expansions ever planned by an Indian firm.
Since then, rumours about the launch of JioCoin have spread across social media. However, in the last week, several posts and explainers claimed that JioCoin had already gone live and even shared guides on “how to buy” the token. This created confusion among users who believed a new crypto asset from Jio had officially entered the market.
According to reliable community reports, Reliance Jio has not launched JioCoin publicly.The company is currently testing the token quietly on the Polygon ($POL) network, but there is no official listing, no trading option and no public release.
Polygon and Jio have not issued any announcement confirming a market launch or token sale. JioCoin is not available on any exchange, and users cannot buy or trade it.
JioCoin is not designed to be a typical cryptocurrency. It does not function like Bitcoin, Ethereum or other tradeable assets. Instead, JioCoin is built as a blockchain-based reward token created by Jio in collaboration with Polygon Labs. It uses Ethereum Layer 2 technology and works more like a loyalty point than a crypto investment.
The goal of JioCoin is to reward users for interacting with Jio’s digital services. There is no buying or selling involved, and the token will remain inside the Jio ecosystem.
A full-scale launch of JioCoin could have a big impact on India’s Web3 landscape. If Jio brings hundreds of millions of users into blockchain-based services, it may accelerate nationwide adoption. This could push other major Indian companies to explore Web3 loyalty systems, tokenised rewards and digital asset infrastructure.
For now, though, the token is still in internal testing.
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