GCash scores SEC approval to publicly launch in-app online stock trading services

GCash, operated by G-Xchange Inc., on Monday said it scored the approval of the Securities and Exchange Commission (SEC) to publicly launch online trading services or GStocks PH through a partnership with AB Capital Securities Inc.

In an emailed statement, GCash said the SEC approval will allow its users to start investing in over 280 local companies listed on the Philippine Stock Exchange (PSE) using their GCash wallets after a previous dry run of the feature.

“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,” GCash chief executive and officer and president Martha Sazon said.

Through GStocks PH, GCash users will be able to buy and sell local shares in real-time, monitor pending trades, portfolio performance, and returns; access a stock watch list, direct research reports, real-time quotes, live stock charts, access analytics, news, and disclosures.

“The SEC supports new innovations in financial technology and how this can enable more Filipinos to have access to legitimate investment opportunities,” SEC commissioner Kelvin Lester Lee said.

“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,” he added.

The firm is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations Inc.), which is in turn a partnership between Globe Telecom Inc., the Ayala Corp., and Ant Financial. —Jon Viktor D. Cabuenas/KBK, GMA Integrated News