Reliance Jio Coin, a digital reward token launched by Reliance Industries, has seen a 30% surge in market value over the past week

Reliance Jio Coin, a digital reward token launched by Reliance Industries, has seen a 30% surge in market value over the past week

Reliance Jio Coin, a digital reward token launched by Indian conglomerate Reliance Industries, has seen a 30% surge in market value over the past week, driven by rising demand and expanded utility partnerships.

The token, currently valued at Rs 15 per coin, is being used by users to earn in-app rewards and discounts.

A cryptocurrency tracking website, WalletInvestor, noted that the token grew from its Rs 0 launch price to a high of Rs 22.

“The coin price will grow 300% within a year,” the website stated.

However, other popular cryptocurrency tracking websites stated that the coin was not in circulation or that no information was available about it.

Jio Coin: A Reward Token, Not Cryptocurrency

Unlike cryptocurrencies such as Bitcoin, Jio Coin is a closed-loop loyalty token usable only within Reliance’s ecosystem (JioMart, JioSaavn, AJIO). It cannot be traded on external crypto exchanges.

In all likelihood, Jio Coin rewards customer engagement and is not a speculative asset but a tool for enhancing user benefits.

Why The Spike

The spike follows Reliance’s partnership with Zomato and Flipkart, allowing Jio Coin redemption on these platforms.

Moreover, limited-time offers, like doubling coin value for Prime members, also fueled demand.

Now, Prime members can transfer their coins to Zomato Money or Flipkart Pay at a 1:1 rate for food and e-commerce purchases.

However, this offer is valid until August 31 and is subject to a maximum transfer amount of Rs 500 per user.

After the offer period ends, Prime members can still transfer their coins at a 2:1 rate.

Meanwhile, Jio Coins can be purchased directly from the company.