GCash: “We can empower Filipinos from all walks of life and give them the opportunity to grow their wealth”
GCASH – The financial technology (fintech) company announced on Monday that it scored the approval of the Securities and Exchange Commission (SEC) to publicly launch GStocks PH.
The fintech company has introduced its online trading services GStocks PH in partnership with AB Capital Securities Inc. (ABCSI). It is ABCSI’s online retail securities trading services that is made accessible via GCash app.
Investors can buy, sell, and manage their securities in local companies listed on PSE through ABCSI’s online platform on the GCash app with no monthly or annual fees.
The fintech company said in an emailed statement sent to GMA News Online that the SEC approval will allow its users to start investing in companies listed on the Philippine Stock Exchange (PSE) using their GCash wallets.
Martha Sazon, the chief executive officer and president of the company, said GCash will continue to partner with “like-minded organizations” like ABCSI so they can empower Filipinos and can give then opportunity to grow their wealth.
SEC commissioner Kelvin Lester Lee, for his part, said that the Commission supports new innovations in fintech and how this can enable more Filipinos to “have access to legitimate investment opportunities”.
Lee also said that the Commission will continue to champion investor and consumer protection through timely regulations while making sure that the regulatory environment “remains conducive to such innovations”.
GCash is operated by G-Xchange Inc, a subsidiary of Mynt.
Through GCash’s online retail securities trading services, users will be able to do the following through the app:
- buy and sell local shares in real-time
- access stock watch list, real-time quotes, direct research reports, and live stock charts
- monitor pending trades, portfolio performance, and returns
- access analytics, news, and disclosures
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