For the first time, the Philippine government’s Retail Treasury Bonds (RTBs) have been made available on an e-wallet platform. The Bureau of the Treasury (BTr) has partnered with GCash to offer its 31st RTB issuance to small investors through the GBonds feature within the GCash app.
The five-year RTB 31 has a coupon rate of 6%. Following strong investor demand during its rate-setting auction, the BTr ultimately sold PHP 210 billion of the securities, up from an initial plan to issue PHP 30 billion.
Through the GBonds feature, GCash users can invest a minimum of PHP 5,000 with no extra fees. The offer period runs from August 5 to August 15.
Treasurer of the Philippines, Sharon Almanza, said the partnership expands the government’s reach.
“This collaboration significantly expands our reach, enabling more Filipinos to invest in government securities easily and securely… It’s a monumental step toward our goal of a more financially inclusive Philippines,” Sharon stated.
Martha Sazon, President and CEO of GCash parent Mynt, added that the initiative allows more people to take part in nation-building while taking a significant step toward their financial goals.
The GBonds feature runs on technology from the Philippine Digital Asset Exchange (PDAX) Inc. and Bonds.ph.
It allows fully verified GCash users to access and invest in fixed-income government securities without needing a traditional bank account. Users register directly within the GCash app.
Featured image: Edited by Fintech News Philippines based on images by vector_corp and benzoix via Freepik and GCash.
