Jump Networks to grow proprietary blockchain platform across India

Jump Networks Limited (JUMPNET), a technology firm providing next-gen digital services on ultra-low bandwidth, announced after trading hours on Monday that it is all set to invest and capitalise on a partnership with MOS Utility Private Limited (MOS) to build it into one of the leading fintech companies in India.

The partnership is expected to generate revenue of over Rs 1,000 crore in the next 12 months for Jump Networks.

MOS is an established fintech company with a robust physical network of agents integrated across the country. The company is focussed on services spanning financial transactions, money transfer, travel and hotel bookings, utility payments, insurance, and others.

The ecosystem of the two organisations is expected to bring about synergies and will aim to reach a larger audience with existing as well as new products and services. JUMPNET will migrate MOS’ existing services to its proprietary blockchain platform thus, upping the platform in its security, efficiency, services, and enabling more innovation.

Speaking on the development, Harshawardhan Sabale, Managing Director of Jump Networks stated that with a fintech partner like MOS, the company’s focus will now be taking its spectrum of financial services to newer markets at more affordable prices as well as an added convenience.

On Tuesday, the stock of Jump Networks Limited closed at Rs 84.70 per share, down by 4.40 per cent or Rs 3.90 per share on BSE, against a 1.26 per cent gain in the benchmark index. The 52-week high is recorded at Rs 96 and the 52-week low is Rs 40.30 on BSE.