Reliance Jio clarifies that they have no app called 'JioCoin'; advises people to avoid downloading such app

Reliance Jio in a clarification has said that they have not launched any app called JioCoin. The telecom brand has also said that it would take legal action against those who solicit to make investments under their name.

Reliance Jio,

Reliance Jio,

In a statement released by Reliance Jio, it said: "Any such apps using the JioCoin name are fake and people are advised to refrain from dealing with any of them." Moreover, no associates or affiliates of the company are associated with the JioCoin app.

Recently, news reports about Jio's investment in cryptocurrency were floating about on the internet. Some publications even pointed out that the JioCoin launch was said to take place in 2018.

Cryptocurrency in the past few months has seen a surge, especially with bitcoin rallying high in the digital currency market. However, it has not been approved by the apex bodies of the Indian government like the Reserve Bank of India.

Apart from that, even Finance Minister, Arun Jaitley had said that cryptocurrencies like the bitcoin are not a legal tender.

Bitcoin, Ethereum, were among the few cryptocurrencies which became quite popular in the digital currency market.

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Updated Date: Feb 01, 2018 09:31 AM