Filipinos can now trade using the most popular e-wallets in the Philippines. The question now is, will they, given the challenging market conditions?
MANILA, Philippines– Mobile wallet and digital bank Maya has launched its own trading platform where Filipinos can trade Philippine equities.
Maya Stocks will be available on December 15, where users can buy and sell shares of over 280 publicly listed Philippine companies through its partner brokers, namely Philstocks, and soon, 2TradeAsia, DragonFi, and Seedbox. Users will be able to choose their broker.
Currently, only about 1% of adult Filipinos with investments place their money in stocks, bonds, or other investment products. A Bangko Sentral ng Pilipinas survey revealed Filipinos are eager to invest but find it difficult to access suitable products.
Maya Group president Shailesh Baidwan said the service will deepen digital adoption, especially among bank customers who already engaged the app two to four times more than those using only e-wallets.
“We’re pioneering a new era of access to investments – making it simpler, faster, and more seamless. With Maya Stocks, we are transforming the Philippine investment landscape with instant transactions and all-in-one digital banking experience, accelerating the nation’s journey towards broader investment ownership,” said Baidwan.
Maya Stocks is the latest feature under the app’s investment products, which offers Unit Investment Trust Funds managed by ATRAM Trust Corporation and mutual funds managed by BIMI. Maya also has a crypto trading platform.
Maya rival GCash launched its stocks trading platform last August. GStocks is powered by AB Capital.
The launch of these stock trading platforms comes amid a tepid market environment and low trading volume. Experts attribute this to high interest rates, with investors putting in their cash to less riskier assets. – Rappler.com