GCash, the Philippines’ top finance app and largest cashless ecosystem, aims to ramp up the user base of its stock investment platform as analysts see a recovery in financial markets this year.
In 2023, GCash tapped AB Capital Securities, Inc. (ABCSI), to introduce GStocks PH to its millions of users, allowing them to diversify their portfolio and choose companies listed on the Philippine Stock Exchange (PSE).
The Philippine stock market is gearing up for a rebound in 2024 according to many analysts. As headline prices begin to ease, central banks across the world, led by the US Federal Reserve, are expected to shift the gears and lower interest rates. This move is set to favor growth assets, especially stocks, paving the way for an optimistic outlook.
"All of these would mean potential renewed interest in local stocks, especially as trading volume dried up in 2023. This might be the year that Philippine stocks start coming back to life, presenting a good opportunity for long-term investors to participate in the growth that local companies can offer over time," explained Mark Ilao, Head of Market Education at GCash.
GStocks PH takes significant strides in gaining investors' confidence by establishing itself as a reliable trading channel, and by offering well-timed investment insights and advisories to its users.
“GStocks PH is a laudable innovation that allows consumers greater and wider access to the Capital Market that would otherwise be more challenging via traditional means. This is also in line with the Commission's policy to further democratize wealth through equity participation which in turn strengthens the Philippine Stock Market,” said Commissioner Kelvin Lester K. Lee of the Securities and Exchange Commission (SEC).
“PSE’s partnership with GStocks PH moves us a step closer to achieving greater financial inclusion by making the stock market more accessible to retail investors. We hope that as the market continues its recovery heading into 2024, more Filipinos will be able to take advantage of the growth of our publicly listed companies through stock investing,” noted Philippine Stock Exchange, Inc. President and CEO Ramon S. Monzon.
“Close to 60% of Americans own stocks. Here, the number is less than 2%. Conventional wisdom states that our low number is due to a lack of savings. But this does not explain the higher ownership in crypto and widespread participation in online gaming. The missing link between the stock market and the public is easy access. GStocks PH will be that link.”, highlighted Antonio Jose U. Periquet, Jr., Executive Chairman of AB Capital and Investment Corporation.
With GStocks PH, GCash users can easily unlock the world of investing in local stocks – register easily, top up quickly and free of charge, as well as seamlessly invest in over 280 local companies listed on the PSE – all within the GCash app. Using the newest wealth tool of GCash, the Learning Hub, users can also access valuable and bite-sized content to better grasp financial concepts. GCash users can access the Learning Hub by going to GInvest from the main dashboard.
ABCSI continues to remind the public that any form of investment entails risk but these can be managed by thoroughly researching on which stocks to invest in and by keeping a diverse portfolio.
About Mynt
Mynt is the first and only $5 billion unicorn in the Philippines. It's a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash — the #1 Finance App in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans.
About GCash
GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.
Mynt and GCash are staunch supporters of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
For more information, please contact:
Bruce Rodriguez, Head of Business Communications
Corporate Communications
Legal Disclaimer & Safe Harbor Statement
This press release is for informational purposes only and does not constitute, or form part of, any offer, solicitation, or invitation to sell, issue, purchase, or subscribe for any securities in the Philippines, the United States, or any other jurisdiction. No securities of Mynt, Inc. have been or will be registered under the U.S. Securities Act of 1933, as amended, and such securities may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. There will be no public offering of the securities of the Company in the United States. No money, securities or other consideration is being solicited by this document or the information contained herein and, if sent in response to this document or the information contained herein, will not be accepted. Any potential initial public offering and listing in the Philippines, if pursued, remain fully subject to prevailing market conditions and regulatory approvals, including the registration requirements of the Philippine Securities and Exchange Commission and the listing rules of the Philippine Stock Exchange, Inc., and there can be no assurance that any such filings will be made or that any offering or listing will be consummated. This document contains forward-looking statements that involve inherent risks and uncertainties; actual results, timelines, and outcomes may differ materially from those projected due to shifting market dynamics, economic environments, and regulatory updates.
