GStocks ready to go global

MANILA, Philippines — The stock investment platform of e-wallet giant GCash is looking to conquer the international arena by allowing users to invest in global stocks.

AB Capital Securities told The STAR that GStocks Global is currently a project in development on GCash’s end.

“As far as we know, GCash is working with regulators to refine details of the project,” it said.

The STAR learned from the Securities and Exchange Commission (SEC) that GCash has filed a sandbox application with the commission for GStocks Global.

The SEC said the application would be evaluated based on the commission’s Memorandum Circular  9, Series of 2024, or the SEC Strategic Sandbox.

“Then the final approval of the project will undergo clearance from the commission en banc,” the SEC said.

Under the memorandum circular, no regulatory sandbox testing involving a business, product, service, or activity falling under the SEC’s jurisdiction may commence without the approval of the commission en banc.

A regulatory sandbox is defined by the SEC as a regulatory tool that will enable a sandbox participant to test its innovative product or service or a new business model in a live and controlled environment within a defined period.

Sandbox participants that graduated from the regulatory sandbox will then formally submit to the SEC an application for the required license to offer the financial product or service to the public at large.

According to the SEC, GStocks PH underwent a similar sandbox arrangement last year before its full implementation.

In just less than a year since its launch, GStocks PH has already expanded its registered users to over 800,000.

Through GStocks PH, stock investments are simplified by allowing users to easily buy shares from companies listed on the PSE for less than P1,000.

Users can invest in over 280 local companies directly through the GCash app.