Asia's Richest Businessman Mukesh Ambani-led Jio Platforms Announces Partnership with Internet Technology Company Polygon Labs

Jio Coins has flooded on social media websites. People sharing screen grabs of their cell phone with Jio Coin wallet.

Mukesh Ambani-led Jio Platforms has announced its partnership with internet technology company Polygon Labs. The partnership will see Jio integrate Polygon’s Web3 capabilities into some of its existing applications and services. Jio users will also be able to access new Web3 services, such as enhanced privacy and control over their personal data.

In addition, the partnership could also lead to the creation of Jio Coins, a digital token that would be issued on the Polygon blockchain. The token could be used for a variety of purposes, such as mobile recharges or purchases at Reliance gas stations.

The company has not yet made an official announcement about the Jio Coin. However, several users have shared screenshots on X (formerly Twitter) of the JioCoin.

“Looks like Jiocoin launched. Can someone confirm it?” Beginning CEO Kashif Raza tweeted along with a screengrab of the JioCoin, speculating that it could eventually be used for services like mobile recharges or purchases at Reliance gas stations like cryptocurrencies.

Reliance Jio has been exploring the field of cryptocurrency and blockchain for some time now. In 2022, the company announced a partnership with Polygon Labs to integrate the latter’s Web3 capabilities into Jio’s services. The partnership will now see Jio Coins being launched on the Polygon blockchain.

The launch of Jio Coins is a significant development in the Indian cryptocurrency market. The token could potentially be used by millions of Jio users, which would give it a large user base from the day it is launched. The token could also be used for a variety of purposes, which would make it an attractive option for users.