At long last, a stocks trading feature is finally coming to the biggest e-wallet service in the Philippines, GCash.
The feature, which will be aptly named GStocks, will be a stock trading platform present within the GCash app. To enable this, the Ayala-led company teamed up with AB Capital Securities, one of the most reputable brokerages in the country, and has collaborated with the Philippine Stock Exchange, Inc. (PSE).
GCash will apparently test the feature on select users by the end of 2022. While the full launch will happen in early 2023, giving its millions of users access to around 300 publicly-listed companies on the PSE platform.
According to GCash, the GStocks feature will be available to all fully-verified users and will feature a beginner-friendly interface. What’s more, GCash will be offering free top-up and withdrawal services.
- How to transfer money from BPI to GCash for free
- GCash Limits: How to check and increase wallet and transaction restrictions
- How to report scammers in GCash
GStocks will feature real-time buying and selling of local shares, monitor portfolio performance, monitor pending trades, real-time quotes, access stock watch list, see analytics, and more.
With its 66 million users, GCash will surely help promote stock trading in the Philippines.
AB Capital Group chairman and CEO Antonio Jose Periquet said that this development will not only make stock trading more accessible in the Philippines but will also allow Filipinos to grow their wealth by offering them the opportunity to own shares of publicly listed Philippine companies. It’s next level accessibility, affordability, assistance, and experience.”
More details about the feature shall be announced soon, so stay tuned for that.
Once available, GStocks will be added to the long list of services available in the GCash app. One of the platform’s many features includes electric bill payment, pay for Spotify Premium and other online services, buy games, and a whole lot more.