The Securities and Exchange Commission (SEC) has granted approval for the test run of AB Capital Securities, Inc. (ABCSI) and GCash’s partnership for online stock trading. A select group of users will trial the new GStocks PH feature on the GCash app, which will allow users to access ABCSI’s online retail trading services.
This partnership offers greater investment opportunities for GCash’s 71 million users, giving them the ability to grow their funds and invest in local companies. During the trial, selected users from both GCash and ABCSI’s employee base will be able to register for a trading account, top up their trading wallet, and trade Philippine stocks through the GCash app.
SEC Commissioner Kelvin Lester K. Lee stated, “The SEC is supportive of new and emerging business concepts, particularly in financial technology. The Commission will ensure that the regulatory environment allows for innovation while being cautious for consumer and investor protection.”
GCash CEO and President, Martha Sazon, added, “Our partnership with trading platforms gives us the opportunity to empower Filipinos from all walks of life to start their investment journey easily and confidently with the capabilities of GCash and the support of the SEC and the Philippine Stock Exchange (PSE).”
This collaboration is expected to give GCash’s financial inclusion efforts a significant boost, as currently, only 1% of Filipinos invest in the stock market. With the launch of GStocks PH, more Filipinos will be able to use ABCSI’s online platform to buy, sell, and manage their securities in companies listed on the PSE.
Download the GCash app for free on the Google Play Store, App Store, or Huawei Gallery and start your investment journey with GStocks PH. For more information, visit www.gcash.com.
