The company that runs GCash, G-Xchange Inc., said on Monday that the Securities and Exchange Commission (SEC) gave it permission to join with AB Capital Securities Inc. to offer online trading services called GStocks PH to the public.
In an email statement, GCash said that the SEC’s approval will allow its users to start investing in over 280 local companies traded on the Philippine Stock Exchange (PSE) using their GCash wallets after a test run of the feature.
“GCash will continue to work with organizations with similar goals, like AB Capital, so that we can help Filipinos from all walks of life and give them the chance to grow their wealth,” said Martha Sazon, the CEO and president of GCash.
Through GStocks PH, GCash users will be able to buy and sell local shares in real time, keep track of pending deals, portfolio performance, and returns, and get access to a stock watch list, direct research reports, real-time quotes, live stock charts, analytics, news, and disclosures.
SEC commissioner Kelvin Lester Lee said, “The SEC supports new developments in financial technology and how they can give more Filipinos access to legal investment opportunities.”
He also said that the Commission will continue to protect consumers and investors through timely rules while making sure the regulatory environment stays open to innovations.
ManilaShaker is a tech media producing insightful and helpful content for our local and growing international audience. Our goal is to create a premier Philippine digital consumer electronics resource that provides the most objective reviews and comparisons globally.
