November 14, 2024 | 12:00am
MANILA, Philippines — Government securities will soon be available on e-wallet giant GCash to cater to more retail investors and boost financial inclusion among Filipinos.
During the 127th anniversary of the Bureau of the Treasury yesterday, Finance Secretary Ralph Recto said the government would launch GBonds next month.
“We are waiting for all regulatory approvals,” Recto said.
“The idea is to allow retail investors access to invest in savings instruments,” he said.
As part of the government’s digitalization initiatives, GBonds aims to make investing easier and more accessible for the public.
The Treasury has partnered with the Philippine Digital Asset Exchange (PDAX) Inc. and GCash to integrate government securities investments with e-wallets.
Through the GCash mobile application, retail investors will be able to seamlessly buy and sell government securities by tapping the GBonds feature of the platform.
“We envision a future where investing in government bonds is no longer a luxury but a new normal for Filipinos – with just a few swipes away and as easy as ordering their favorite food delivery,” Recto said.
“This empowers our people to effortlessly secure their future, all from the comfort of their homes,” he said.
As such, the Rector called on GCash, PDAX and other regulators to speed up the process of launching the GBonds for better financial inclusion among Filipinos.
During the same event, the Treasury awarded the country’s government securities-eligible dealers (GSEDs) who helped the government raise funds and promote financial inclusion.
GSEDs are eligible to participate in the primary auction of government securities, helping promote depth and liquidity in the government securities market through position-taking and market-making in the secondary market.
This year, Metropolitan Bank and Trust Co. was recognized as the top performer among all GSEDs.
Also included in the top 10 were BDO Unibank Inc., Bank of the Philippine Islands, China Banking Corp., Citibank, Development Bank of the Philippines, Land Bank of the Philippines, Philippine National Bank, Security Bank Corp. and Standard Chartered Bank.
Recto said the government would continue to pursue policies that solidify financial institutions and modernize the domestic capital market to support the growth of GSEDs.
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