Reliance Jio’s subsidiary JioSphere launches $Jio Coin on the Polygon network
JioSphere officially launched the Jio Coin with an official announcement but parent company Reliance Jio is silent on this big development.
JioSphere is an averagely popular Indian web browser. The main vision of this internet browser is only to deliver a safe, fast & uninterrupted browsing experience. JioSphere is a subsidiary of Reliance Jio Platforms Ltd which, in turn, is a subsidiary of Reliance Industries Limited. Reliance Jio is a top-level telecom company in India owned by Indian billionaire Mukesh Ambani.
On 16 Jan 2025, JioSphere announced the launch of its Jio coin on the popular Ethereum layer-2 scaling network Polygon ($POL).
This token can be earned by the JioSphere internet browser users only, in the form of incentives for using the browser & watching promotional videos. This is just like Brave browser’s $BAT token.
Here, people need to know that this token is not tradeable or redeemable, but soon in the future, JioSphere will allow users to redeem their Jio coin for internet recharge & other stuff.
The majority of the media reports claimed that it is just a token, which is not expected to be launched on any crypto trading platform. It means it is just like a reward token but on the Blockchain network.
Some Indian crypto influencers predicted that in the future, Reliance company may give a very big push for this token to be used in Jio’s ecosystem.
Jio Coin Scam
Jio Coin, named unofficial token, was launched by some unknown people in 2018. Also, a dedicated app for this token was available in the Google Play Store with the tagline “Jio Coin New Digital Currency for India”. The app had crossed 10,000 downloads within a few days. The developers of the app were misleading the users by claiming that the app was developed by Reliance Digital, a subsidiary of Reliance Jio.
Later, Reliance company officially addressed this matter & clarified that the app was not backed by Reliance or its subsidiary and also suggested people not invest in any kind of such asset.
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