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 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.
