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Technology

Philippines' top payment app GCash to offer stock trading service

Exchange chief hopes to quadruple investor accounts in 'very short period of time'

GCash will be the first payment app in the Philippines to offer stock trading.   © AP

MANILA -- Philippine fintech startup Mynt plans to offer stock trading on its popular GCash app by November, a move the Philippine Stock Exchange hopes will be a "game changer" for the local equities market.

The planned launch of the stock-trading service will be carried out in partnership with the PSE and brokerage AB Capital Securities, and is part of GCash's ongoing transformation from a mobile payments app into a fintech platform that offers credit and investment services. This will be the first time for a payment app to offer stock trading in the Philippines.

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