DUBAI, UAE, Jan. 10, 2025 /PRNewswire/ — Bank Alfalah, a leading commercial bank in Pakistan with a network of over 1,000 branches, has announced its acquisition of a 9.9% equity stake in Jingle Pay, one of the fastest growing fintechs in the MENAP region. The Bank’s fintech investment underscores its commitment to driving digital transformation and fostering financial inclusion across key markets.

Jingle Pay has redefined the fintech space with its proprietary AI-powered tech stack already processing over 2 million transactions and facilitating over $1 billion in international money transfers in 2024, saving customers over $6 million in fees. Jingle Pay was recently awarded the top global fintech for remittances into Pakistan.

Jingle Pay has solidified its position as a high-growth fintech leader in the MENAP region, supported by prestigious investors, including MoneyGram, G42-backed Applied AI, and prominent U.S. venture capital firms known for backing global fintech giants like N26 and PayPal, Jingle Pay continues to disrupt the industry. Bank Alfalah’s equity investment and appointment to Jingle Pay’s Board signal a robust partnership aimed at driving growth and innovation. This collaboration leverages Bank Alfalah’s extensive infrastructure to amplify Jingle Pay’s impact on cross-border payments and digital banking, advancing its ambitious vision for the MENAP region.

Jingle Pay provides innovative services, including multi-currency accounts, instant money transfers via the world’s first remittance marketplace, card payments, and last-mile payouts across 150+ corridors in 99+ currencies. Additionally, its Remittance-as-a-Service solution enables banks, FinTech’s, and non-financial institutions to facilitate seamless international money transfers.

Jingle Pay plans to launch its digital banking services in Pakistan in Q1 2025 as a branchless banking mobile app targeting to bring seamless and inclusive financial services to the country’s largely unbanked population. Jingle Pay will leverage Bank Alfalah’s infrastructure to bring seamless banking solutions to millions of customers. The partnership will create synergies in cross-border payments strengthened by shareholder MoneyGram.

As Pakistan’s 5^th largest remittance partner, Jingle Pay plays a crucial role in driving global financial flows that contribute significantly to the country’s GDP. Establishing local presence in Pakistan will strengthen its partnership and cross-border capabilities, further cementing Jingle Pay’s position as a leader in the remittance ecosystem.

Leadership Remarks

Farooq A. Khan, Group Head – Corporate, Investment Banking and International Business of Bank Alfalah, emphasized: “This acquisition is a milestone in our journey to lead the digital banking revolution. By combining Jingle Pay’s innovative platform with Bank Alfalah’s resources, we aim to redefine cross-border financial services and deliver exceptional value to millions of users.”

Amir Fardghassemi, Founder and CEO of Jingle Pay, said: “Partnering with Bank Alfalah empowers us to scale our vision of inclusive finance. Together, we aim to enrich the digital economy and create transformative cross-border financial solutions.”

The collaboration also enhances Bank Alfalah’s role in the global Payments ecosystem, strengthening its position as a leader in cross-border financial flows and delivering unparalleled value to customers in the MENAP and beyond.

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About Bank Alfalah

Bank Alfalah is a leading commercial bank in Pakistan, with over 1,000 branches across 200 cities and an international presence in the UAE, Bahrain, and Afghanistan. Its heritage and prominence extend over 25 successful years, highlighted by achievements that reflect exponential growth in the country’s financial sector.

The Bank offers various products and services to private-sector institutions and governments, including corporate and investment banking, consumer banking, securities brokerage, commercial, small and medium enterprises, agricultural, Islamic, and asset financing.

The Bank has established itself as a premier digital bank by introducing various features on its banking app, such as Alfamall, Buy Now Pay Later, and Term Deposit Receipts. It has also launched Pakistan’s first digital lifestyle branch. 

About Jingle Pay

Jingle Pay, a UAE born fintech, is the MENAP region’s leading and fastest-growing fintech, specializing in cross-border money transfers licensed by Dubai Financial Services Authority (DFSA). Jingle Pay operates in the UAE, Bahrain, and Pakistan, offering cutting-edge financial services. Backed by global financial institutions like MoneyGram, Bank Alfalah, top-tier U.S. and international venture capital firms that have backed PayPal and N26, as well as G42 backed, Applied AI.

The company provides a wide array of solutions, including Remittance-as-a-Service for financial institutions, enabling seamless global payouts across 150+ corridors and 99+ currencies. Additionally, Jingle Pay operates a B2C app for retail customers, facilitating card payments and international money transfers focused on driving financial inclusion and leveraging AI to redefine cross border payments.

CONTACT: Jingle Pay, [email protected], +971 4 547 7778

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HONG KONG, Jan. 10, 2025 /PRNewswire/ — Term Structure Labs team is thrilled to announce the launch of TermMax on the Arbitrum and Ethereum testnet, a DeFi protocol that simplifies leveraged yield strategies by offering fixed income debt & earn products with integrated leverage functions to enhance cost and time efficiency for all types of users. With the mainnet launch on Ethereum and Arbitrum scheduled for Q1 2025, TermMax offers a preview on Testnet showing how it will revolutionize fixed-income strategies in DeFi.

Experience the Future of DeFi Fixed-Income Strategies

TermMax redefines leveraged yield strategies with intuitive and accessible solutions designed to meet users’ needs. With one-click leverage, users can seamlessly open leveraged positions in Pendle’s PT tokens at fixed rates and fixed terms through a streamlined process that automates looping and reduces transaction costs. Moreover, TermMax enables users to collateralize their assets and acquire debts at fixed rates. These acquired funds can then be reinvested into yield opportunities across the DeFi ecosystem. By integrating debt and earn functions and using a customizable Uniswap v3 AMM model, TermMax empowers market makers to design their own AMM based range orders and users to leverage 5x or more and capitalize on interest rate differentials to capture higher returns. Whether aiming for predictable returns, leveraging yield-bearing assets, or exploring strategies like interest rate trading, TermMax makes optimizing investment returns simple and effective.

Explore the TermMax Testnet on Arbitrum and Ethereum

The TermMax testnet is now live on Arbitrum and Ethereum, giving users a risk-free opportunity to experience its innovative features. To get started, simply claim testnet tokens from our faucet and experiment with creating debt, earning fixed rates and leveraging yield-bearing tokens.

Exciting Upcoming Features on the Horizon

The current testnet release brings powerful features for users. With one-click leverage, users can create debt at fixed rates and gain exposure to target tokens. Creating debt and earn position at fixed rates are now available, along with opportunities to provide liquidity and earn yields and fees. Upcoming enhancements include customizable AMM for any market maker to place range orders for fixed rate debt and / or earn. The TermMax Vault will also launch, enabling Liquidity Providers to deposit funds to any Curator’s Vault to earn continuous yields and incentives across multiple markets with ease.

For more information on how TermMax is reshaping the future of DeFi fixed-income markets, visit the official website and follow us on X.

View original content:https://www.prnewswire.co.uk/news-releases/termmax-testnet-now-live-on-arbitrum-and-ethereum-transforming-the-future-of-defi-yields-302346949.html

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Conference call scheduled for the same day at 10:00 a.m. ET

NEW YORK, Jan. 9, 2025 /PRNewswire/ — Newmark Group, Inc. (Nasdaq: NMRK) (“Newmark” or “the Company”), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, today announced the details of its fourth quarter and full year 2024 financial results press release and conference call. The Company plans to issue an advisory press release regarding the availability of its consolidated quarterly and full year financial results at 8:00 a.m. ET on Friday, February 14, 2025. Newmark’s advisory release will notify the public that a full-text financial results press release will be accessible at the following pages:

http://ir.nmrk.com (PDF version of the full press release, PDF of a quarterly results investor presentation, link to the webcast, and supplemental Excel financial tables)

https://www.nmrk.com/media (PDF version of the full press release only)

Newmark will host a conference call on Friday, February 14, 2025, at 10:00 a.m. ET to discuss its results.

WHO:	Newmark Group, Inc. (Nasdaq: NMRK)
WHAT:	Fourth Quarter and Full Year 2024 Financial Results Conference Call
WHEN: Advertisement	Friday, February 14, 2025, at 10:00 a.m. ET
WHERE:	https://event.webcasts.com/starthere.jsp?ei=1703440&tp_key=629defdc2c

For those who are unable to join the webcast, the Company expects to post dial-in information before the day of the call on the event’s page at http://ir.nmrk.com. 

Webcast Replay

Note: If clicking the above links does not open a new webpage, you may need to cut and paste the URLs into your browser’s address bar.

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ABOUT NEWMARK
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2024, Newmark generated revenues of over $2.6 billion. As of September 30, 2024, Newmark’s company-owned offices, together with its business partners, operated from nearly 170 offices with more than 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

DISCUSSION OF FORWARD-LOOKING STATEMENTS ABOUT NEWMARK
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

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