Polygon Labs, the company behind the widely utilized Polygon blockchain, recently revealed a collaboration with Reliance Jio Limited, led by Mukesh Ambani, aimed at incorporating Web3 features into its existing services. This week, a new cryptocurrency token named JioCoin has started to appear on the telecom operator's JioSphere browser app. This reward token seems to have been launched quietly, with no official details released by either Jio or Polygon. However, the JioSphere browser provides some insights into the functionality of JioCoins. ### JioCoin Token Accessible on JioSphere for Android and iOS Currently, JioCoin tokens can be found on the JioSphere app for both iOS and Android, with plans to make them available on the desktop version of the browser soon, as stated on the JioSphere website. The JioSphere app for Android indicates that the company will distribute JioCoins as reward tokens that can be accumulated for various benefits. Users with phone numbers registered in India will qualify to receive these tokens. Users can explore details about the new JioCoin in the ‘Profile' section of the JioSphere app, located beneath their username. Signing into the browser using their phone number is a prerequisite. For new sign-ups, the JioCoin tab displays a zero balance, accompanied by the message: “Engage with JioSphere to see the rewards roll in!” Gadgets 360 confirmed the existence of this feature within the JioSphere app for Android. Clicking on this tab leads users to the JioCoin Wallet page, where each wallet has a unique address consisting of alphanumeric characters and numbers. Additionally, the wallet page states that users can earn rewards for interacting with the browser.

These tokens can later be redeemed for discounts on transactions, according to information provided in the app. JioSphere stands as the first application from the telecom giant to feature a wallet capable of storing JioCoins. As users interact with the browser and accumulate rewards, the tokens will be added to their individual wallets. The FAQ section for JioCoin mentions that “the value of the tokens is also determined based on user engagement. ” At this time, no information has been disclosed regarding how users can redeem their JioCoins or if they can be traded like conventional cryptocurrencies. Further details on these aspects are expected to emerge soon within the in-app wallets, according to the FAQ page. ### The Role of Polygon's Blockchain On Tuesday, the blockchain firm confirmed to Gadgets 360 that its Polygon blockchain is facilitating the integration of these Web3 wallets with JioSphere. "Polygon Labs is thrilled to announce its initial integration with Jio Platforms Limited. This represents a notable progression in integrating Web3 capabilities into Jio's ecosystem and is merely the beginning of various transformative products under development, ” stated a spokesperson in a prepared statement. Aishwary Gupta, Polygon’s global head of payments, noted that this collaboration with Jio is among its largest partnerships in the country to date. Jio and Polygon revealed their collaboration on January 16, when the blockchain company announced that Jio aims to implement Web3 technology in the services provided to over 450 million users.