Mynt increases stake in ABCSI to 16%, enabling GCash users to trade stocks

Globe Fintech Innovations Inc. (Mynt), the parent company of e-wallet GCash, has increased its stake in AB Capital Securities Inc. to 16 percent following the closure of two investment tranches as of December 31, 2024.

In September 2023, Mynt entered into an agreement with AB Capital & Investment Corporation to acquire up to a 50 percent equity stake in ABCSI, enabling GCash's over 80 million customers to trade stocks online via the GStocks app.

As of August 2024, more than 800,000 investors have started trading PSE-listed stocks using the GCash platform, making stock trading more accessible for Filipinos.

Based on Mynt's initial purchase, ABSCI's full valuation stands at approximately ₱500 million.

The goal of this partnership is to promote financial inclusion and widen public ownership in listed Philippine companies, helping ordinary Filipinos grow their wealth by investing in equities.

AB Capital Securities provides research content and online trading services for GStocks PH, with the PSE praising the initiative for modernizing stock trading in the Philippines.