The Securities and Exchange Commission (SEC) in the Philippines has granted approval to G-Xchange, Inc. (GCash) and Macodimarc Technology Corporation (Pluang PH) to enter its regulatory sandbox.

This move, formally announced on 2 June 2025, allows both companies to trial their innovative platforms within a controlled regulatory environment.

The framework also provides for the possibility of regulatory relief for sandbox participants. It allows for modifications or replacements of certain licensing, registration, or compliance requirements during the sandbox period.

An information technology firm, Pluang PH, will test a mobile application. This app enables retail investors in the Philippines to trade and invest in pre-selected US securities. The securities are listed on the New York Stock Exchange and/or National Association of Securities Dealers Automated Quotations.

For Pluang PH, their sandbox period will run for six months. It will involve a controlled group of up to 1,000 qualified buyers and retail users.

GCash, on the other hand, intends to offer simplified and unified access to global stock markets. This will be available directly through its GStocks Global feature within its existing application. The sandbox period for GCash will extend for 24 months and can accommodate up to 2 million participants.

Both Pluang PH and GCash must provide the SEC with regular updates. These updates include their operations, testing outcomes, and any issues encountered. Furthermore, any changes to their testing plans must receive prior approval from the Commission, ensuring oversight and investor protection.

The outcomes of participation in the sandbox could include successful completion, early termination by the SEC, or voluntary withdrawal by the participant. A successful completion may lead to the SEC approving the product for wider public offering.

Featured image by EyeEm on Freepik.