The Securities and Exchange Commission (SEC) has approved the entry of G-Xchange Inc. (GCash) and Macodimarc Technology Corp. (Pluang PH) into its strategic sandbox (StratBox) program, a regulatory initiative designed to foster innovation in the capital markets.
In a formal notice issued on June 2, the SEC granted both firms the green light to test their digital investment platforms under controlled conditions. These initiatives will primarily focus on offering retail investors access to U.S. stock markets, with crypto assets playing a limited role.
Pluang PH, the local arm of Indonesian fintech firm Pluang, will trial a mobile app enabling trades in pre-approved U.S. securities listed on the NYSE and NASDAQ. Its sandbox run will last six months with up to 1,000 qualified users.
GCash, meanwhile, will integrate GStocks Global into its app, aiming to provide streamlined access to international equities. Its sandbox period spans 24 months, potentially engaging up to 2 million participants.
SEC chairman Emilio B. Aquino emphasized the broader goal of the sandbox program: promoting a fair and dynamic capital market while safeguarding investors. StratBox allows the SEC to provide regulatory relief during the trial phase and may pave the way for full-scale product rollouts upon successful completion.
Both companies are mandated to submit regular updates and must obtain prior approval for any changes in their testing protocols, ensuring robust oversight and investor protection.
