GCash Targets Growth of GStocks PH User Base in 2024
GCash, the best finance app and the country's biggest cashless ecosystem, has announced plans to significantly increase the number of people using its stock trading platform, GStocks PH. This is because the financial market is expected to recover this year.
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| GCash Targets Growth of GStocks PH User Base in 2024 |
In 2023, GCash and AB Capital Securities, Inc. (ABCSI) worked together to launch GStocks PH. This was a smart move. Millions of GCash users have been able to diversify their holdings by investing in companies listed on the Philippine Stock Exchange (PSE) thanks to this new platform.
The Philippine stock market is expected to return in 2024, as prices are expected to go down and interest rates are expected to be lowered by global central banks, led by the US Federal Reserve. This trend is expected to help grow assets, especially stocks, which will improve the market picture.
Mark Ilao, Head of Market Education at GCash, said, "The expected rise in interest in local stocks and the expected recovery of the market create a great chance for long-term investors to participate in the growth potential of local companies."
GStocks PH has done a great job of earning the trust of investors by positioning itself as a reliable trading tool and giving investors timely insights and advice.
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The head of the Securities and Exchange Commission (SEC), Kelvin Lester K. Lee, praised GStocks PH as a "commendable innovation that expands consumer access to the Capital Market, further democratizing wealth and bolstering the Philippine Stock Market."
The President and CEO of the Philippine Stock Exchange, Inc., Ramon S. Monzon, agreed, saying, "Our partnership with GStocks PH brings us closer to our goal of widespread financial inclusion by making the stock market easier for retail investors to access."
Antonio Jose U. Periquet, Jr., Executive Chairman of AB Capital and Investment Corporation, talked about how GStocks PH helps bring more people into the stock market. He said, "Easy access is the key to increasing stock ownership." GStocks PH is going to help make that happen.
The GStocks PH app makes buying local stocks easy for people who use Grand Cash. The GCash app makes it easy for users to sign up, add money quickly and for free, and invest in over 280 local companies listed on the PSE. GCash's newest financial education tool, the Learning Hub, also helps people understand money ideas better by giving them easy-to-read content.
ABCSI keeps telling people that all investments come with risks that can be managed by doing a lot of studies and keeping a diverse portfolio.
Go to the Learning Hub through GInvest on the GCash app's main screen to learn more.
