Gov’t to launch ‘GBonds’ on GCash

THE Department of Finance said the government is set to launch “GBonds” on electronic wallet platform GCash in December, as it seeks to make investing more accessible.

“For 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. This empowers our people to effortlessly secure their future, all from the comfort of their homes,” Finance Secretary Ralph G. Recto said in a statement on Wednesday.

He urged GCash, the Philippine Digital Asset Exchange (PDAX), Inc., and regulators to speed up the process of launching GBonds “to bring the government closer to achieving financial inclusion for Filipinos.”

“[A]s we push for greater retail participation and digital transformation, let me assure you that the economic team will continue fostering a stronger economy that provides favorable conditions for growth and investment,” he said.

Currently, GCash has over 94 million registered users.

G-Xchange is the operator of GCash. The parent firm of GCash, Globe Fintech Innovations, Inc., is an affiliate of listed telecommunications company Globe Telecom, Inc.