Gcash on Thursday reported gaining less than a million sign-ups of its mobile stock market trading app only a year since its launch.
GStocks PH and partner stock broker AB Capital Securities Inc., has thus far attracted over 800,000 registered users. This number, the partnership said, grows daily and reflects the increasing interest of Filipinos in stock market transactions.
“This milestone underscores GCash’s commitment to making investment opportunities more accessible to Filipinos across the country. In addition, through GStocks PH, GCash has helped boost the number of Philippine investors where one in five PSE accounts trade via the app,” Winsley Bangit, GCash vice president and group head of wealth management and new businesses, said.
With GStocks PH, users can buy shares from companies listed on the Philippine Stock Exchange for less than P1,000, as well as navigate the stock market with ease.
One may invest in over 280 local companies directly through the GCash app.
GCash recently organized the first-ever GStocks PH Connect, gathering users on its first anniversary to build a supportive network of traders.
On top of the freebies and games, the invited users had access to exclusive market insights and stock investment tips from Haszel Tan, AB Capital’s head of research.
The GStocks PH team also said the service has enabled users to create wealth of about P12 million in gains as of end-July this year.
It was noted that GCash’s financial inclusion program extends beyond stock investments.
Recently, the GSave Tab within the app’s dashboard streamlined the need to manage the savings of 10.9 million users.
“GCash has been known for championing financial inclusion, especially for the unbanked and underbanked. Together with our current GSave partners, namely, BPI, CIMB, UNO Digital Bank, and Maybank, we want to enable more Filipinos to build their wealth and achieve their financial goals,” Bangit said.
