GCash

Mynt, the Philippine fintech company behind digital wallet GCash, said on Wednesday its board and shareholders had approved the filing of a registration statement with the Securities and Exchange Commission and a listing application with the Philippine Stock Exchange for a potential initial public offering (IPO).

Philippine fintech player GCash has launched a new payment innovation, introducing a next-generation contactless solution that offers convenience, security, and global reach with partnership with Alipay+, Mastercard.

In its continued bid to boost digital transformation in the Philippines, mobile payments service firm GCash is partnering with digital ordering platforms for restaurants, starting with Singapore-based restaurants ordering system Tablevibe.

This initiative aims to provide small and medium businesses (SMBs) with more flexible and secure payment options while improving access to credit for buyers.

GCash has selected JPMorgan Chase & Co, Morgan Stanley and UBS Group AG to work on the potential share sale, the people reportedly said. Other banks that may also help to arrange a deal.

The company intends to list in the second half of next year, Bloomberg reported. An IPO of that size would likely make it the biggest ever in the country.

The Philippines-based conglomerate Ayala Corporation has acquired additional 8 percent stake in Globe Fintech Innovations, Inc. (Mynt), the parent company of the finance super app and digital cashless ecosystem GCash in the Philippines, for PHP 22.9 billion ($394.54 million).

GCash, a finance super app based in the Philippines, has partnered global payment firm PayPal to launch stablecoin in the Philippines. PayPal’s stablecoin PayPal USD (PYUSD) is now available in the Philippine market through GCash.

Philippines-based finance app GCash – operated by the country’s fintech firm Mynt – has entered agrifintech through a strategic bid with Mayani, an agri-fisheries platform connecting smallholder farmers and fishers to buyers, to tackle the nation’s elusive phenomenon of rural financial inclusion.

The acquisition will help GCash improve its services in the fintech space and further democratize financial access, Globe said.