VEON's Banglalink Wins Bangladesh Bank Nod for Mukto Pay, Eyes September Launch
VEON sits 34% above its 52-week low of $42.6.
Summary
Banglalink, VEON's Bangladesh unit, secured a PSP licence from the central bank, clearing the way for its Mukto Pay digital payment service. The commercial launch is targeted for September 2026, subject to final regulatory and technical steps. This is a concrete step in VEON's broader 'Invest in Bangladesh NOW' framework, which includes a $250M commitment and aims to attract $1B in FDI. The move extends VEON's fast-growing fintech footprint—digital revenue jumped 53.6% YoY in Q2, with financial services contributing $151M—into a large underbanked market. VEON has also applied for a digital banking licence in Bangladesh, signaling deeper ambitions.
At the time of this announcement, VEON was trading at $56.93 on NASDAQ in the Technology sector, with a market capitalization of approximately $3.6B. The 52-week trading range was $42.60 to $64.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.