EasyEquities-owner Purple Group announced today that it has partnered with GCash to give people from the Philippines access to managed portfolios of US shares.
GCash is one of the largest and fastest-growing e-wallet providers in the Philippines, with over 70 million active clients.
“The partnership of two market-defining fintech companies can help revolutionize the investment landscape in the Philippines by making it a more accessible, friendly and affordable activity for everyone,” said Martha Sazon, president and CEO of GCash-owner Globe Fintech Innovations.
When EasyEquities first launched in South Africa, it launched an investment game. For this partnership, the two companies will be using a similar strategy.
In June 2023, the partnership will launch a Fantasy Investment Game, which will run for at least six weeks.
As part of the game, GCash users can invest in real markets with fantasy money to familiarise and educate their clients on investing in the US stock market.
Purple Group did not specify when the partnership would launch. However, it said it had been meeting with the Philippines’ Securities and Exchange Commission “to ensure compliance and approval to launch the real product as soon as possible”.