Filipino e-wallet GCash is set to expand its stock investment service globally, according to PhilStar.
GCash is currently working with regulators, including the Securities and Exchange Commission (SEC), and has submitted a sandbox application for GStocks Global.
This sandbox allows companies to test innovative products or services in a controlled environment before receiving full regulatory approval.
The SEC will assess the application under the sandbox framework, with final approval pending from the commission en banc.
If successful, GCash will apply for the required license to offer GStocks Global to the public.
GCash’s local platform, GStocks PH, followed a similar process last year, growing to over 800,000 users.
GStocks PH provides access to over 280 local companies on the Philippine Stock Exchange, with investments starting at less than PHP 1,000.
Featured image credit: Edited from Freepik
