GCash Aims to Expand GStocks PH User Base in 2024 - Adobotech | Tech, Gadgets Served in Adobo Flavors

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GCash Aims to Expand GStocks PH User Base in 2024

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GCash, a financial app and the largest cashless ecosystem in the Philippines aims to ramp up the user base of its stock investment platform in 2024. as analysts see a recovery in financial markets this year.

In 2023, GCash partnered with AB Capital Securities, Inc. (ABCSI) to introduce GStocks PH to its vast user base, enabling millions of users to diversify their portfolios by investing in companies listed on the Philippine Stock Exchange (PSE).
As the global economic landscape evolves, analysts foresee a rebound in the Philippine stock market throughout 2024. With headline prices showing signs of stabilization, central banks worldwide, spearheaded by the US Federal Reserve, are anticipated to adjust interest rates downward. This shift is poised to benefit growth-oriented assets, particularly stocks, heralding a positive market sentiment and outlook.
"All of these would mean potential renewed interest in local stocks, especially as trading volume dried up in 2023. This might be the year that Philippine stocks start coming back to life, presenting a good opportunity for long-term investors to participate in the growth that local companies can offer over time,: explained Mark Ilao, Head of Market Education at GCash.
GStocks PH takes significant strides in gaining investors' confidence by establishing itself as a reliable trading channel, and by offering well-timed investment insights and advisories to its users.

“GStocks PH is a laudable innovation that allows consumers greater and wider access to the Capital Market that would otherwise be more challenging via traditional means. This is also in line with the Commission's policy to further democratize wealth through equity participation. Which in turn strengthens the Philippine Stock Market,” said Commissioner Kelvin Lester K. Lee of the Securities and Exchange Commission (SEC).
“PSE’s partnership with GStocks PH moves us a step closer to achieving greater financial inclusion by making the stock market more accessible to retail investors. We hope that as the market continues its recovery heading into 2024, more Filipinos will be able to take advantage of the growth of our publicly listed companies through stock investing,” noted Philippine Stock Exchange, Inc. President and CEO Ramon S. Monzon.
“Close to 60% of Americans own stocks. Here, the number is less than 2%. Conventional wisdom states that our low number is due to a lack of savings. But this does not explain the higher ownership in crypto and widespread participation in online gaming. The missing link between the stock market and the public is easy access. GStocks PH will be that link.”, highlighted Antonio Jose U. Periquet, Jr., Executive Chairman of AB Capital and Investment Corporation.
With GStocks PH, GCash users can easily unlock the world of investing in local stocks – register easily, top up quickly and free of charge, as well as seamlessly invest in over 280 local companies listed on the PSE – all within the GCash app. Using the newest wealth tool of GCash, the Learning Hub, users can also access valuable and bite-sized content to better grasp financial concepts. GCash users can access the Learning Hub by going to GInvest from the main dashboard.

ABCSI continues to remind the public that any form of investment entails risk but these can be managed by thoroughly researching which stocks to invest in and by keeping a diverse portfolio.
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