GCash to Allow Users to Invest in Philippine Stock Exchange

GCash users can soon trade and invest in Philippine stocks using the mobile wallet app, the head of the local bourse said Tuesday as Filipinos seek more digital platforms to grow their money.

The Philippine Stock Exchange through a tripartite deal with GCash and brokerage firm AB Capital Securities will design a platform that will allow users of the e-wallet to directly invest in the stock market, PSE President and CEO Ramon Monzon said.

"GCash and PSE have agreed to tie up and we will be offering stock trading to the 67 million subscribers of GCash," Monzon said in an interview with BusinessWorld Live.

"By November, GCash subscribers should be able to invest already in the stock market," he added.

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Currently, GCash users can invest in different funds based on their risk appetite. The app is also set to dive into the cryptocurrency space.

Monzon said the PSE is studying how to offer fractional trading in shares to make stock investing and trading accessible to more Filipinos.