GCash to fully incorporate PSE stock trading by 2023

ED PAOLO SALTING

2022-09-22T07:00:00.0000000Z

2022-09-22T07:00:00.0000000Z

The Manila Times

https://digitaledition.manilatimes.net/article/281857237398859

Corporate News

DIGITAL wallet GCash said on Monday it aims to activate the untapped potential of the Philippine equities market by launching GStocks, an inapp stock trading platform, which is set to go into beta testing by the fourth quarter of 2022 and fully implemented by 2023. The app is powered by one of the most reputable brokerages in the country, AB Capital Securities, in collaboration with The Philippine Stock Exchange Inc. (PSE), through the use of their technology. Martha Sazon, GCash president and chief executive officer (CEO), said the new stock trading feature on the app primarily aims to introduce equities trading to more Filipinos who have the potential to invest. “At GCash, we pursue a vision of ‘Finance for All.’ Last year, through our GInvest product and based on our studies, 4 out of 5 unit investment trust funds, and 1 out of 5 mutual funds in the country were conducted through our platform,” Sazon said. “Now, with GStocks, more Filipinos will now be able to invest in stocks by making it accessible to the 66 million users of GCash.” AB Capital Group Chairman and CEO Antonio Jose Periquet, who is regarded as one of the country’s most trusted investment bankers, also expressed confidence in the company’s partnership with GCash and PSE. “AB Capital is truly proud to be a part of this initiative, not just for business reasons, but also for making stock trading more accessible to Filipinos, which will promote inclusive growth,” Periquet explained. PSE President and CEO Ramon Monzon believes that this partnership will further modernize Philippine stock trading and enable millions more Filipinos to become stock market investors, ultimately contributing to nation-building. Jong Layug, GCash head of wealth management, said GStocks will be available to fully verified GCash users without the need for a bank account. With a beginner-friendly user interface, it will give Filipinos easy access to local stocks via the GCash app. The payment platform will also be offering free top up and withdrawal services.

en-ph