Gcash to Introduce Stock Trading Feature by November

Trading at the Philippine Stock Exchange (PSE) will soon become a reality with GCash, which will allow entry for an estimated 9 million new investors over the next five years.

PSE President and CEO Ramon Monzon have mentioned that they are finalizing the commercial terms on how stock trading will be possible on GCash and are looking at unveiling the new feature by November.

Mr. Monzon has also mentioned that the PSE has signed a tripartite agreement with AB Capital Securities and GCash.

“PSE has agreed to tie up [with GCash and AB Capital] and we will be offering stock trading to the 67 million subscribers of GCash. It was only last Friday when we agreed on the commercial terms and we are now doing the technical issues,” shares Mr. Monzon.

With GCash’s estimates, this new stock trading feature can reel in at least nine million new investors by 2027. Mr. Monzon says that this venture of PSE into the e-wallet sector will improve the number of retail participants in the country.

“When we were going over the projections made by GCash, they project about more than nine million investors in five years’ time,” says Monzon.

“It’s really going to be a game changer in terms of the number of retail investors participating in the [stock] market.”

This collaboration between the parties only starts with the launch of the stock trading on GCash, with PSE wanting to provide fractional trading for access to e-wallet users.

Source: Philstar