The Securities and Exchange Commission approved the sandbox run of stock trading partnership between AB Capital Securities Inc. and GCash, the mobile wallet of Globe.
The sandbox arrangement means that select users will test the functionalities of GStocks PH―a new feature to be offered on the GCash app that will allow users to avail of ABCSI’s online retail trading services.
This move opens up bigger and better opportunities for GCash’s 71 million users to grow their funds and invest in local companies.
Select users coming from GCash and ABCSI’s employee base will be able to register and apply for a trading account with ABCSI, top up their trading wallet and trade Philippine stocks using the company’s system through the GCash app.
SEC commissioner Kelvin Lester Lee said the agency supported new and emerging business concepts, especially with new innovations in financial technology.