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Mukesh Ambani’s Reliance JioCoin: Cryptocurrency, Blockchain, And Polygon Labs Partnership Explained

Mukesh Ambani's JioCoin: Is Reliance Set to Transform Indian Cryptocurrency?

Earn JioCoins Steps
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Mukesh Ambani’s Jio Platforms created a buzz by partnering with Polygon Labs to enter the cryptocurrency era. Since the news appeared, JioCoin has become a trending topic on social media platforms, especially X where users post photos of the digital token. CEO Kashif Raza also shared that JioCoin will likely support mobile recharges and Reliance gas station payments. However, no official announcement has been made.

 

How To Get Reliance JioCoin?

Earn JioCoin
JioSphere

JioSphere web browser users reportedly see JioCoin appear through their system, although it remains unconfirmed by the company. Social media reports across Android and iOS show JioCoin on people’s phone screens, even though Jio has not validated this information. The token’s unexpected appearance has made all JioSphere users curious about its potential.

How To Earn JioCoin
JioSphere

The Reliance FAQ section mentions that JioCoins are blockchain-based reward tokens that users can earn by engaging with different mobile or internet-based apps as decided by Jio Platforms Limited (JPL) using their Indian-based mobile numbers.

Users will get Web3 tokens when they use Jio apps, which will automatically save into their digital wallets. The Coin might appear in Jio apps like MyJio and JioCinema at some point. Jio took this step following its recent partnership with Polygon Labs to enhance its blockchain and Web3 services. Mukesh Ambani’s Reliance Jio has not provided any official announcements about the JioCoin cryptocurrency, including its functions and plans.

 

Partnership With Polygon Labs

JioCoin Wallet
JioSphere

This partnership between Jio Platforms and Polygon Labs aims to introduce blockchain technology to Indian users. Through this alliance, Jio customers can enjoy Web3 features such as enhanced privacy, data self-governance, and innovative new services.

This alliance leverages Polygon’s blockchain expertise to enhance Web3 functions across Jio’s product portfolio. It allows Jio to explore product development for its largest user group of 450 million subscribers. Various Web3 technologies use blockchain technology and its components, including digital assets, smart contracts, cryptocurrencies, central bank digital currencies (CBDCs), and NFTs.

All cryptocurrency earnings in India face a 30% tax plus a 1% tax deduction at source (TDS), which will apply to JioCoin transactions. Following WazirX’s security breach, many Indians view cryptocurrency negatively because they lost millions of rupees. However, blockchain-based currency values are expected to grow globally because Bitcoin tokens keep increasing in worth.

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Prateesha Singh
the authorPrateesha Singh
Content Writer
I’m a passionate writer and a graduate with a natural talent for storytelling. I find joy in both reading and writing. My commitment to social work enriches my literary journey. My journey is driven by a desire to make a difference through words and action.