Public launch of GStocks PH receives green light from SEC
GCash users now have more investment options with PSE-listed firms
The Securities and Exchange Commission (SEC) has approved the public launch of AB Capital Securities, Inc.’s (ABCSI) initiative of making its online trading services accessible in the GCash App.
GCash customers have already been able to grow their wealth through GFunds by allowing them to invest in various funds managed by experts for a minimum investment of as low as P50. With the launch of GStocks PH, there are more investment opportunities for GCash users as they can now choose which companies listed on the Philippine Stock Exchange (PSE) to invest in.
Earlier this year, the SEC approved the sandbox run of the service offered in the GCash app under the GStocks PH feature. The dry run helped ABCSI ensure that its online retail trading services can provide the best possible experience to GCash users.
“The SEC supports new innovations in financial technology and how this can enable more Filipinos to have access to legitimate investment opportunities. While making sure the regulatory environment remains conducive to such innovations, the Commission will also continue to champion consumer and investor protection through timely regulations,” SEC Commissioner Kelvin Lester K. Lee said.
For GCash CEO and President, Martha Sazon, “GCash will continue to partner with like-minded organizations like AB Capital so that we can empower Filipinos from all walks of life and give them the opportunity to grow their wealth. We thank the SEC and the PSE for enabling this partnership.”
Meanwhile, AB Capital Group’s Executive Chairman Antonio Jose Periquet, Jr. said that the strategic partnership with GCash and the PSE is a big boost to the country's financial inclusion agenda. The Philippines currently has a little over 1% of Filipinos investing in the stock market.
“Now that AB Capital Securities Inc.’s online trading platform is available on GCash, millions more can invest in some of the biggest, most profitable, and well-managed listed companies on the PSE – giving them greater potential to earn more from their hard-earned money,” Periquet noted.
With GStocks PH, more investors in the Philippines can enjoy an easy registration process to begin investing in 280+ local companies listed on the PSE, all in the GCash app. Users can also fund their trading accounts using their GCash wallets for free, no bank account is needed. 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 keeping a diverse portfolio.
About Mynt
Mynt is the parent company of GCash, the #1 Finance Super App in the Philippines. It’s the first and only fintech company listed on the Philippine Stock Exchange under the “GCASH” ticker symbol. Through GCash, Mynt advances its vision of 'Finance for All' by making financial services more accessible to Filipinos. Mynt operates a portfolio of companies, including G-Xchange, Inc., the payments company responsible for the digital payments and electronic money activities in the GCash app, and Fuse Financing, Inc., the financing company for GCash that provides fair and digitally-enabled credit products and solutions.
Mynt, through its fintech operations, is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly focusing on safety & security, financial inclusion, diversity, equity, and inclusion, as well as taking urgent action to combat climate change and its impacts.
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
