Reliance Jio Tests “JioCoin” on Polygon

India’s Web3 landscape is entering a new phase. Reliance Jio has begun testing “JioCoin” on Polygon, marking one of the clearest signs yet that large Indian enterprises are preparing for on-chain consumer applications.

This comes at the same time as Coinbase reopening user registrations in India after a long pause & announcing an INR-to-crypto fiat ramp for 2026. Adding to this momentum, the Government of Karnataka has signed an MoU with Coinbase to boost cybersecurity, startup support & blockchain innovation.

Together, these updates show a coordinated shift across enterprise, global platforms & state ecosystems.

• JioCoin Testing on Polygon
• Coinbase Reopens User Registration
• Karnataka–Coinbase Innovation Partnership

JioCoin Testing on Polygon

Reliance Jio has started a controlled test of JioCoin, using Polygon’s scalable environment to evaluate token issuance, settlement speed & integration potential across consumer apps. Polygon has become a preferred environment for high throughput pilots, demonstrated earlier in record stablecoin transfers.

Early signals indicate Jio is exploring use cases like loyalty rewards, identity layers & in-app micro transactions. Even a limited rollout could introduce millions of users to on-chain interactions.

Coinbase Reopens User Registration

Coinbase has quietly resumed onboarding Indian users after halting new registrations in 2022. The exchange also confirmed plans for a 2026 INR-to-crypto ramp, which would allow direct rupee conversion into digital assets through a compliant pathway.

These steps follow a year of stronger domestic oversight & global regulatory alignment. EtherWorld recently reported on India’s enforcement data & reporting requirements.

Coinbase’s return signals renewed confidence in India as a long-term growth market.

BREAKING: 🇮🇳 Karnataka signs MoU with Coinbase to supercharge on-chain innovation, support new startups and boost cybersecurity. pic.twitter.com/x6vmHnwAVQ

— Crypto India (@CryptooIndia) December 5, 2025

Karnataka Signs MoU With Coinbase

Karnataka has formalised a partnership with Coinbase to support:

• Web3 startup programs
• Blockchain cybersecurity research
• Developer training initiatives

Bengaluru, which already leads India’s engineering landscape, gains institutional backing to strengthen its Web3 ecosystem. This builds on a broader pattern of India’s technology states adopting blockchain-ready policies.

Even though these announcements came from different directions, their timing shows alignment.

• Jio brings scale: A consumer-facing token system from India’s largest telecom provider can push Web3 interaction into daily digital behaviour.
• Coinbase brings compliance & liquidity: A regulated on-ramp in 2026 could reduce friction that previously held back wider participation.
• Karnataka brings institutional support: Innovation programs, security research & startup incentives strengthen the builder ecosystem.

India’s latest moves fit into this wider moment of maturity across the crypto ecosystem. If these efforts move forward, India could become one of the most active public blockchain markets in the world, powered by enterprise adoption, compliant access & supportive state infrastructure.

If you find any issues in this blog or notice any missing information, please feel free to reach out at yash@etherworld.co for clarifications or updates.

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