In early January 2025, Polygon Labs announced a partnership with Reliance Jio, India's largest telecom company. The company said Jio will begin using Polygon PoS blockchain to add Web3 functionality to selected apps and services. With over 450 million users, this is considered one of the largest Web3 expansions ever planned by an Indian company.
Since then, rumors about the JioCoin launch have spread across social media. However, last week, several posts and explainers claimed that JioCoin is already live and even shared a guide on “how to buy” the token. This caused confusion among users who believed that Jio's new crypto asset had officially entered the market.
No, JioCoin has not been launched yet
According to reliable community reports, Reliance Jio is not making JioCoin available to the public. The company is currently quietly testing the token on the Polygon ($POL) network, but there is no formal listing, no trading options, and no public offering.
Polygon and Jio have not made any announcements confirming the market launch or token sale. JioCoin is not available on any exchange and cannot be purchased or traded by users.
What is JioCoin actually like?
JioCoin is not designed to be a typical cryptocurrency. It does not work like Bitcoin, Ethereum, or other tradable 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 loyalty points than a cryptocurrency investment.
JioCoin's goal is to reward users for interacting with Jio's digital services. Regardless of whether you buy or sell, your tokens will remain within the Jio ecosystem.
What public access means for India
The full-scale launch of JioCoin is likely to have a significant impact on India's Web3 environment. If Jio brings hundreds of millions of users to its blockchain-based service, nationwide adoption could accelerate. This may encourage other large Indian companies to explore Web3 loyalty systems, tokenized rewards, and digital asset infrastructure.
However, for now, the token is still undergoing internal testing.
