Launch of Polish Monobank postponed "indefinitely"

Release of the Ukrainian virtual monobank to the Polish market is delayed. The launch of the project called stereo is postponed "indefinitely" due to "circumstances beyond our control". 

Co-founder of digital bank Oleh Horokhovskyi reported about this.

He added that the project is fully ready for launch in the neighbouring country, and on May 24, it successfully passed Apple Pay certification.

"More than 230,000 customers are waiting for the launch of stereo in Poland, and we continue to work to make this possible," Horokhovskyi wrote on Telegram.

In November 2022, the owner of Universal Bank, on the basis of which monobank was created, Serhii Tihipko announced the release of monobank into the Polish market. He did not specify which bank would be a partner.

In January 2023, Horokhovskyi's statement appeared. He announced plans to enter the Polish market and to open pre-orders. 

"Today we are opening a pre-order for another mono. And two mono are already stereo. stereo by mono is the name of our Polish project," Horokhovskyi said, noting that the official release will come this quarter.

According to him, first, the new bank will be designed for displaced persons from Ukraine, at that time about 3 million people in Poland.

In addition, the project's creators intend to attract poles and "surprise them with the Ukrainian level of banking service."

You will be able to register with mobile banking remotely via Diia. To do this, you will also need PESEL (national identification number in Poland).

It is worth noting that monobank started operating in January 2017. It was founded by former top managers of PrivatBank – Oleh Horokhovskyi, Dmytro Dubilet and Mykhailo Rohalskyi. The project operates under the license of Universal Bank, which is part of Serhii Tihipko's TAS group.

Earlier, the businessman stated that the monobank value significantly exceeds USD 1 billion. According to him, the annual profit from the project is more than USD 300 million.

It also became known that on May 25, the Council of the European Union adopted the regulation of duty-free trade with Ukraine for another year, until June 2024. 

The Council of the EU. Duty-free trade with the EU was extended for a year. The Council of the EU noted that such a decision confirms unwavering political and economic support for Ukraine, which still faces unprovoked and unjustified military aggression of Russia. They stressed that the removal of duties will help Ukraine maintain the stability of trade relations with the EU and support the economy in very difficult conditions.