Monday, May 27, 2024

GCash says it now has nearly half a million GStocks PH users

Finance app GCash and largest cashless ecosystem has it has recorded nearly half a million user base for GStocks PH as it ramps up the reach of its stock investment platform.

In 2023, GCash tapped AB Capital Securities, Inc. (ABCSI), to introduce GStocks PH to its users, allowing them to diversify their portfolios and choose companies listed on the Philippine Stock Exchange (PSE).

“Through our partnership with GCash, it’s now very easy for an individual to open an account for local stock investments and trade in stocks, with just a tap of their finger,” said AB Capital & Investment Corporation Chairman and CEO Antonio Jose Periquet.

With half a million users already registered to GStocks PH, GCash has attracted an extensive and diverse range of users in every region in the country namely in the National Capital Region (37%), North Luzon (15%), South Luzon (25%), Visayas (13%), and Mindanao (10%)

“We have a compounded annual growth rate of about 11 percent in stock market investors. I’m hopeful that with the easy access and the education initiatives that we are doing for the GCash subscribers, hopefully, at least in the next five years, if they could double that 1.9 million, we’ll be happy,” said Philippine Stock Exchange president and CEO Ramon Monzon.

With GStocks PH, GCash users can unlock the world of investing in local stocks – register easily, top up quickly and free of charge, as well as invest in over 280 local companies listed on the PSE – all within the GCash app.

Using the newest wealth tool of GCash, the Learning Hub, users can also access valuable and bite-sized content to better grasp financial concepts. GCash users can access the Learning Hub by going to GInvest from the main dashboard.

“We are very determined to craft different solutions and make wealth creation easier for millions of Filipinos, while ensuring compliance with our regulators. We found like-minded partners in AB Capital and the PSE who share the vision of advancing financial empowerment for more Filipinos in a way that is safe, easy, and less daunting,” said GCash group head of wealth management Jong Layug.

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