Mynt made its debut on the Philippine Stock Exchange (PSE) under the ticker GCASH in October 2026. Priced at 6.60 pesos (US$0.10) per share, the base offering totals roughly 53 billion pesos (US$839.5 million), expanding to 60.92 billion pesos (US$965 million) if the overallotment option is fully exercised. This implies a valuation of approximately 442 billion pesos (US$7 billion) for Mynt, based on the IPO pricing.
The company reported multiple oversubscription, suggesting notable institutional interest at the time of its IPO. Cornerstone investors committed 36.5 billion pesos (US$578.1 million) before the public offer, with participants including Capital Research and Management Company, Citadel, HSBC Global Asset Management and Lazard Asset Management, alongside other major investors. Mynt was also the first company to list under the Philippine Securities and Exchange Commission’s revised rules for large issuers, which allow a minimum public float of 12% instead of the standard 15%.
How GCash Defined Fintech for the Philippines
The IPO is the culmination of what began in 2004 as GCash, a basic e-wallet service for sending funds through text messages, built for a market where far more people held a mobile phone than a bank account. In 2015, Globe Telecom, Ayala Corp. and Ant Group together formed Mynt to scale the business into an all-in-one financial app, operating e-money transactions under subsidiary G-Xchange, Inc. (GXI).
Over the following decade, the app evolved into a broader financial platform. Users who first signed up to buy prepaid load or pay bills could now grow their funds through GSave, borrow through GLoan and Fuse Financing, subscribe to insurance through GInsure and trade shares through GStocks PH, all from their mobile phones.
As of June 2026, GCash counts more than 41.5 million monthly active users, representing nearly 56% of Filipino adults. The app reaches about four times as many users as its nearest competitor, according to estimates by market research firm Frost & Sullivan. That user base is supported by 1.3 million cash-in/out points, 2.4 million QR Ph merchants, and more than 3,000 billers and government agencies.
Bridging the Banking Gaps for Millions
For decades, the pain points of minimum balances, paperwork and physical distance kept many Filipinos from accessing the formal financial system. GCash took a different route, with customers first opening accounts for simple transactions, then becoming comfortable with more varied financial services as they became available, within an app they were already familiar with.
The figures show how far that access has spread. By the second quarter of 2026, Mynt’s lending arm Fuse Financing had disbursed 451 billion pesos (US$7.1 billion) in loans to 11.5 million borrowers. GCash has already helped broaden retail participation in the Philippine stock market. When PSE accounts reached a record 1.9 million in 2023, the exchange attributed much of the increase to new investors first joining through GStocks PH. By 2025, the number of stock market accounts had risen to 3.64 million, up 27.3% from 2024, with 3.22 million retail accounts accessed through digital platforms. GStocks PH now serves more than 2 million users, accounting for a significant share of online investing activity.
This comprehensive shift toward digital finance is also reflected in national data. In a survey commissioned by the Philippines’ Central Bank, the share of Filipino adults with bank accounts rose to 58% in the first quarter of 2026 from 48% a year earlier, with e-wallets identified as an important contributor to the increase. By lowering the barriers to entry, GCash helped bring more Filipinos into the financial system and participate in the economy, aligning with the UN Sustainable Development Goals on poverty reduction and financial inclusion.
“A decade ago, most Filipinos saw formal financial products as beyond their reach,” says Martha Sazon, Mynt’s President and CEO. “Today, no matter how remote their location or how humble the transaction amount, millions of GCash users handle their savings, credit and investments entirely through our app. By expanding access for all Filipinos, we also grow along with the market and the country.”
The company’s sustained rise reflects the effectiveness of this approach. All in all, the GCash platform handled about 17 trillion pesos (US$269.2 billion) in gross transaction value in 2025. In the first half of 2026 alone, Mynt recorded adjusted revenue of 43 billion pesos (US$685.9 million), up 9.8% from the same period a year earlier, while net income rose 7.3% to 10.8 billion pesos (US$171 million).
Backed by Global Leaders
Before the offering, Globe Telecom and Ant Group each held about a third of Mynt. Ayala raised its direct stake to about 13% in 2024, the same year Japan’s Mitsubishi UFJ Financial Group (MUFG) acquired an 8% stake in a transaction that valued Mynt at US$5 billion, drawing attention as the Philippines’ first unicorn of that size at the time.
Mynt’s shareholder base builds on a collaboration of leaders in their respective fields, with each key partner providing its own strengths to the company’s foundation and expansion. Globe supplied the mobile subscriber base and network ecosystem, while Ant Group brought its experience running Alipay, one of the world’s leading payment plat forms. Ayala came with the legacy of one of the country’s most established business conglomerates, while MUFG, Japan’s largest banking group, lent the standing of a major international lender.
“The optimism around our GCASH IPO proves that financial inclusion can’t be seen as just a social initiative or corporate responsibility anymore. Our view is that we’re contributing to a significant, sustainable economic engine,” says Evelyn Ng, Mynt’s Chief Finance Officer. “We’re investing in our vision that gives every Filipino the power to properly manage, protect and build their financial future.”
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Mynt is the parent company of GCash, the Philippines’ top finance super app and largest cashless ecosystem. Learn more at mynt.com.ph
