MANILA, Philippines — Mobile wallet GCash will launch an in-app feature that will allow users to trade local stocks.
In a statement, GCash said it is planning to officially launch its GStocks platform by year-end to select users. A nationwide roll-out is being eyed in early 2023.
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The fintech company partnered with the Philippine Stock Exchange and local brokerage AB Capital Securities in developing GStocks.
"With GStocks on the GCash app, powered by AB Capital Securities and supported by the PSE, more Filipinos can now invest in stocks,” GCash President and CEO Martha Sazon said.
“GStocks will democratize stock trading in the country by making it accessible to the 66 million users of GCash,” she added.
GStocks will be available to fully-verified GCash users without the need for a bank account.
The payment platform will also be offering free top-up and withdrawal services.
Users of GStocks will be able to buy and sell local shares in real-time, monitor pending trades; monitor portfolio performance and returns via a dashboard; and access stock watch list, direct research reports, real-time quotes and live stock charts.
Users will also have access to analytics, news and disclosures and daily and weekly market reports.