Mukesh Ambani's Reliance Jio Coin Venture Reshapes India's Crypto Market

Mukesh Ambani, the chairman of Reliance Industries, has made a significant move into the blockchain and cryptocurrency space with the introduction of Reliance Jio Coin.

The chairman of Reliance Industries, Mukesh Ambani, has made a significant move into the blockchain and cryptocurrency space with the introduction of Reliance Jio Coin. This venture aims to elevate India’s crypto market and bring blockchain-based rewards to users across the country.

What Are Jio Coins?

According to Reliance’s FAQ section, Jio Coins are blockchain-reward tokens that users can earn by interacting with various mobile or internet-based apps designated by Jio Platforms Limited (JPL) using their Indian mobile numbers. The technology arm of Reliance, Jio Platforms, has partnered with Polygon Labs to bring Web3 and blockchain advancements to India.

As the name suggests, Jio Coins are tokens that operate on a blockchain, a technology also used for cryptocurrencies like Bitcoin.

The latest data from Wallet Investor shows that the value of one Jio Token is Rs 21.995, and 100 Jio Coins are worth Rs 2,199.529. The market capitalization of Jio Coin is currently at Rs 38,635,984, reflecting its overall valuation in the cryptocurrency market.

The total number of Jio Coins in circulation is 1,908,130 tokens.

To start earning Jio Coins, users can follow these steps:

Jio Coins can be earned by using the JioSphere web browser from any device, be it an Android smartphone, iPhone, Windows PC, or MacBook.

Moreover, Jio Coins can be accumulated through Jio apps such as JioSphere, Jio Mart, Jio Cinema, and My Jio.

According to various media reports, Jio Coins can be used for mobile recharges and shopping discounts. This innovative use of blockchain-based rewards is garnering attention and modifying India’s crypto market.