Yes, I think it may be possible. And I hope Reliance launches the JioCoin India. Ambani's have a good rapport in India and are known to disrupt the Indian markets (a Most trustworthy company in India). There master plan about JIO network in India was marvelous and they are always coming with new schemes like JIOMoney, JIOMobile, JIOTv.
Not only Relaince but many banks like ICICI and YES Bank have already started assimilating the blockchain infrastrucute to their banking services.