Mynt’s upcoming initial public offering, according to analysts, will have an estimated proceed of up to 90 billion pesos that will give the parent company of GCash a huge cash infusion to expand and update GCash’s services.
GCASH’s Reach: over 90 Million Filipino People
Currently, GCash serves as the top electronic wallet service provider for Filipinos, represent 90 million people. Its reach is seen in the everyday lived experiences of Filipinos: from the daily commute, the purchase of groceries, the sari-sari store, the cappuccino at Starbucks, to the settlement of bills; GCash has covered a majority of touchpoints to prove that it is a necessity for businesses and consumers alike—especially bridging the gap between the banked and unbanked. In fact, this represents 94% of the fintech app usage among Filipinos.
GCash Provides Services for Nearly All Niches
GCash provides a wide array of services that lowers financial hurdles for Filipinos. Fund transferring accounts for a vast majority of its usage—one can observe this in splitting bills for outings, the QR code at a store, and the payment of bills. Trading is another service it provides. From cryptocurrency to stocks and bonds, GCash lowers the difficulty (and often lengthy, physical process) of purchasing and trading assets. A new, but expanding feature is the loan category. Dipping its finger into the loaning market, GCash has now allocated billions of pesos in providing short-to-medium term loans for the unbanked population—providing transparent credit scores and terms that users can access immediately.
The breadth of GCash’s offerings as a financial application makes it a super app. This is what makes it so alluring for investors, and such a central part of life for Filipinos. It fills nearly all niches, all needs, all pain points.
The Initial Public Offering: Driven by Emotion?
This is the bread-and-butter of the Initial Public Offering. By opening Mynt, its parent company, to public investors, ordinary Filipinos are allowed access to benefit from—or at the very least, participate in—the ownership of a Philippine institution. The 90-billion-peso valuation comes from a best-case scenario projection of providing a 10-peso per share offering. The value may range, where ‘sweet spots’ according to trading analysts hover around 7-8 pesos per share.
Nevertheless, the IPO of Mynt marks a pivotal moment in the financial landscape of the Philippines, especially in the trading sphere. The Philippine Stock Index has been occupied by established conglomerates that, while also central to Filipino lives, have slowed down innovation. Mynt is a different unicorn altogether: it provides (a) centrality to everyone, (b) services for everyone, and (c) constant innovation and the potential—or actual—nature of growth. This sets it apart from the likes of Ayala corporation, SM Malls, San Miguel, and so forth. It is digital. It is revolutionary. It is both established and new. And it is ever growing. That is the emotional tug of the company; and that reflects the large valuation of its IPO.
Save the Date: October 12. But Keep a Level Head
On October 12, Mynt will be up for public trading. Despite the emotional sentiment, investors must read beyond the hype. They should treat the IPO just like any other trade: with due diligence, discipline, and self-awareness of risk. As an Initial Public Offering opens the company’s accounting books to the public, there is the opportunity finally handed to truly scrutinize the earnings, revenue, profit or loss, debts, and other aspects of the company’s financial health. This will allow investors to cut through the noise—and everyone is urged to tune out the hype, conduct due diligence, and make an informed decision.
Informed Decisions with DOPAY Academy
At DOPAY, we offer a platform that allows for just that—informed decisions. Through the DOPAY Academy, with a suite of over 600 lessons covering financial concepts from remittance, trading, cryptocurrency, and everything in between, our aim is to financially enable every Filipino. We believe that through financial education, we spark a generation of better-equipped investors navigating the once-opaque landscape of investing.
DOPAY Fills Niches Yet to be Served
Whether you are a GCash user or not, DOPAY fills a niche that specifically addresses pain points that the application has yet to fill. Affordable remittance and simplified cryptocurrency trading. For Filipinos of all backgrounds: the Overseas Filipino Worker in Japan, the expert crypto trader, or the everyday kababayan, we hear your needs. DOPAY is an application that utilizes blockchain technology to enable transparent pricing and security for its remittance, fund transfer, and crypto trading services.
Incentive Programs
For those who seek to spread the benefits of the DOPAY application, we offer a Referral Program that awards referrers 70 pesos in ETH, and referred users 30 pesos in ETH. Terms and conditions apply.
For those who seek to Trade and Earn, we offer rebate incentives for crypto makers.
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DOPAY is available for download on iOS and Android. Download now and discover what it can do for you.
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