GCash, a popular mobile wallet, is introducing a new in-app function that will enable users to trade local equities.
According to a statement release by GCash, GStocks will be made available to a limite number of consumers by the end of the year. The target launch date for the entire country is January 2023.
The financial technology firm GStocks was develope in collaboration with the Philippine Stock Exchange and the local brokerage AB Capital Securities.
President and CEO of GCash, Martha Sazon, said that more Filipinos may now buy in stocks. Thanks to GStocks via the GCash app, which is powered by AB Capital Securities and supporte by the PSE.
She said that by bringing stock trading to GCash’s 66 million users, “GStocks will democratize stock trading in the country.”
Users of GCash who have completed verification will have access to stocks without the need for a financial institution account.
The platform’s added reload, and cash-out features will also be provided gratis.
Users of GStocks can access a stock watch list, direct research reports, real-time quotes, and live stock charts, purchase and sell local shares in real time and monitor pending deals.
Analytics, news, disclosures, and market reports for the day, week, or month will also be available to users.
