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GCash launches stock market game to prep users for trading platform

Ralf Rivas

This is AI generated summarization, which may have errors. For context, always refer to the full article.

GCash launches stock market game to prep users for trading platform
(2nd UPDATE) Newbie investors can practice trading stocks without the worry of losing money and have a chance of winning as much as P10,000 every week

MANILA, Philippines – GCash has launched an investing game where users can learn and practice investing in the stock market, as the e-wallet platform readies customers for the launch of its trading platform.

GStocks Game, which is powered by EasyEquities, allows newbie investors to learn investing in the US stock market without worrying about losing money.

The game is already available on the GCash platform, specifically on the app’s ‘Enjoy’ section, and will be up until August 4. It is a trial feature in preparation for the launch of GStocks Global.

Users will be given ‘play money’ worth $10,000 every week. At the start of the week, users will be able to compete for the highest gains in their portfolio and climb up the leaderboard.

The challenges end every Friday where 15 players have the chance to take home actual cash prizes. The top players will win P10,000; P7,500 for the second place winners; and P5,000 for the third placers. The 4th to 15th placers will also receive cash prizes.

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“We are grateful and excited to be partnering with GCash to bring a game that can motivate, educate, and excite their unmatched user base in the Philippines and promote financial inclusivity throughout the country. We believe Filipinos are ready for it,” said Rish Tandapany, EasyEquities Philippines president.

The Ayala-led company earlier teamed up with EasyEquities for the platform for trading US equities.

GCash’s stock trading platform is anticipated to invigorate the Philippines’ capital markets with its over 80 million users. This user base is significantly higher than the 1.6 million local investors currently trading through traditional investment houses on the PSE. – Rappler.com

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(Editor’s note: An earlier version of this story said that GCash teamed up with AB Capital Securities for the GStocks Game. EasyEquities Philippines has clarified that GCash teamed up with EasyEquities since GStocks is “solely EasyEquities’ platform and technology.” In addition, the GStocks Game only offers US-listed shares, not local equities.)

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Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.