G-Xchange Inc., which owns GCash, on Thursday claimed nearly half a million users of its GStocks as it ramped up the reach of its stock investment platform.
GStocks said it has gained the confidence of its investors by establishing itself as a reliable trading channel and by offering well-timed investment insights and advisories to its users.
The company said it has attracted an extensive and diverse range of users in every region of the country, namely in the National Capital Region where it has 37 percent, North Luzon with 15 percent, South Luzon with 25 percent, the Visayas with 13 percent and Mindanao with 10 percent.
“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,” Philippine Stock Exchange Inc. president and CEO Ramon Monzon said.
In 2023, GCash tapped the services of AB Capital Securities Inc. in introducing GStocks to its millions of users, allowing them to diversify their portfolio and choose companies listed on the Philippine Stock Exchange.
“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 the finger,” AB Capital’s chairman and CEO Antonio Jose Periquet said. “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,” GCash group head of wealth management Edgardo Layug said.
