GCash goes cross-border, eyes 'biggest IPO' title
Asian Banking & Finance|Issue 113
It aims for full launch and expansion into 10 markets in 2024.
Frances Gagua
GCash goes cross-border, eyes 'biggest IPO' title

The golden question that GCash is facing right now is this: when's the IPO happening? G-Xchange CEO and President Ren-Ren Reyes told Asian Banking & Finance that the Philippines' largest mobile wallet and digital payments app is just waiting for the right moment, eyeing to become one of the country's largest IPOs in history.

"We want Filipinos to participate in our IPO, whether to invest in GCash, or at least be proud that the brand they use every day is now one of the biggest IPOs in the country," he said. Even without the IPO, GCash already has quite a lot to be proud of: it now has over 75 million active users, expanding from the 60 million it had in May 2022.

GCash has also issued 13.5 million insurance policies, and 9.1 million users are actively registered in GSave. Most recently, they also launched GSave and GCrypto.

But GCash's ambitions for 2024 far exceed just going public and getting listed in the stock exchange, with Reyes sharing overseas and local expansions on the horizon.

Going cross-border

Denne historien er fra Issue 113-utgaven av Asian Banking & Finance.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra Issue 113-utgaven av Asian Banking & Finance.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA ASIAN BANKING & FINANCESe alt
Embedded Finance, Digital Banks To Drive SEA's Fintechs
Asian Banking & Finance

Embedded Finance, Digital Banks To Drive SEA's Fintechs

Embedded finance, partnerships, and digital banks will be the three defining trends shaping Southeast Asia’s financial technology (fintech) landscape in the future.

time-read
1 min  |
Issue 114
UBC Aims For Top 5 In Sri Lanka Banking
Asian Banking & Finance

UBC Aims For Top 5 In Sri Lanka Banking

Chairman Nirvana Chaudhary is prepared to lead amidst a national finance crisis.

time-read
3 mins  |
Issue 114
What Makes Malaysia The Next Great Investment Banking Frontier In Southeast Asia?
Asian Banking & Finance

What Makes Malaysia The Next Great Investment Banking Frontier In Southeast Asia?

EVs, takaful insurance, and its proximity to Singapore attract investment activity, according to a BofA executive.

time-read
3 mins  |
Issue 114
How HomePay Is Combating Renovation Scams In Singapore
Asian Banking & Finance

How HomePay Is Combating Renovation Scams In Singapore

Money is put in an escrow account and disbursed when milestones are reached.

time-read
3 mins  |
Issue 114
Will Property Woes Continue To Weigh On Chinese Megabanks?
Asian Banking & Finance

Will Property Woes Continue To Weigh On Chinese Megabanks?

This year, Chinese megabanks are facing two big hurdles: the government’s mandate that may force banks to take on more risks in the name of propping up China’s embattled property sector; and declining credit demand and interest rates.

time-read
2 mins  |
Issue 114
How Have Banks' Wealth Management Pivots Played Out In China?
Asian Banking & Finance

How Have Banks' Wealth Management Pivots Played Out In China?

There’s up to $25b in fees to be made in Asia, but it’s a tough market, an analyst said.

time-read
5 mins  |
Issue 114
Why Singaporeans are okay with locking away over $4b of their money
Asian Banking & Finance

Why Singaporeans are okay with locking away over $4b of their money

Customers can only access 'locked' money with a physical card or by visiting a branch.

time-read
2 mins  |
Issue 114
OCBC builds the the next pipeline of talent
Asian Banking & Finance

OCBC builds the the next pipeline of talent

Lim weaves in support for women bankers to broader industry talent shortage.

time-read
3 mins  |
Issue 114
Banks flip the tables on disruption by becoming the disruptors themselves
Asian Banking & Finance

Banks flip the tables on disruption by becoming the disruptors themselves

Companies are facing not just tech transformations but also shorter skill lifespans for their workforce.

time-read
3 mins  |
Issue 114
Basel III capital hike is not a problem for APAC
Asian Banking & Finance

Basel III capital hike is not a problem for APAC

Most of banking jurisdictions in most Asia Pacific markets should be able to absorb the moderate increases in capital requirements stipulated under the final Basel III standards.

time-read
2 mins  |
Issue 114