GCash, the Philippines’ top finance app and largest cashless ecosystem, recorded nearly half a million user base for GStocks PH as it ramps up the reach of its stock investment platform.
In 2023, GCash tapped AB Capital Securities, Inc. (ABCSI), to introduce GStocks PH to its millions of users, allowing them to diversify their portfolios and choose companies listed on the Philippine Stock Exchange (PSE).
“Through our partnership with GCash, it’s now very easy for an individual to open an account for local stock investments and trade in stocks, with just a tap of their finger,” said AB Capital & Investment Corporation Chairman and CEO Antonio Jose Periquet.
Together with ABCSI, GCash provides a stock investment platform that is more convenient, safer, and easier to understand, especially for beginner investors.
“I wish to commend GCash and AB Capital for this partnership aimed at improving access and delivery of financial products and services to our consumers. For us at the Commission, this partnership, which leverages advancements in digital technology, is precisely the kind of innovation that must be encouraged from our financial service providers, as it directly contributes not only to our efforts to accelerate financial inclusion but also capital market development,” said Commissioner McJill Bryant Fernandez of the Securities and Exchange
Commission in a recorded video message. GStocks PH has taken 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. With half a million users already registered to GStocks PH, GCash has attracted an extensive and diverse range of users in every region in the country namely in the National Capital Region (37%), North Luzon (15%), South Luzon (25%), Visayas (13%), and Mindanao (10%)
“We have a compounded annual growth rate of about 11 percent in stock market investors. I’m hopeful that with the easy access and the education initiatives that we are doing for the GCash subscribers, hopefully, at least in the next five years, if they could double that 1.9 million, we'll be happy," said Philippine Stock Exchange President and CEO Ramon Monzon.
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.
“We are very determined to craft different solutions and make wealth creation easier for millions of Filipinos, while ensuring compliance with our regulators. We found like-minded partners in AB Capital and the PSE who share the vision of advancing financial empowerment for more Filipinos in a way that is safe, easy, and less daunting,” said GCash Group Head of Wealth Management Jong Layug.
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.
