Speech by President Ferdinand R. Marcos Jr. at the Mynt, Inc. Initial Public Offering Listing Ceremony

Thank you very much. First of all, allow me to greet some of our distinguished guests here today.

Finance Secretary Frederick Go; the Philippine Stock Exchange Chairman Jose Pardo; PSE President and CEO Mon Monzon and the Board of Directors of the PSE; Ayala Corporation Chairman Jaime Augusto Zobel de Ayala; Mynt Inc. Chairman Ernest Cu; Mynt Inc. President and CEO Martha Sazon and the Board of Directors of Mynt; our partners from the private sector; fellow workers in government; distinguished guests; ladies and gentlemen.

Good morning.

Today, we celebrate a milestone not only for Mynt alone, the company behind GCash, but also for the future of Philippine finance.

E-wallets, which were once a fairly new concept that many felt unsure of, has become a necessity and this, of course, developed during the pandemic as well.

Now, GCash is part of everyday Filipino life. It has even become a verb, “i-GCash mo na lang.”

Sa pamamagitan ng e-wallet app, puwede na tayong magbayad ng bills, bumili ng kailangan, o magpadala ng pera sa pamilya gamit lamang ang ating mga cellphone. Kahit sa mga maliliit na tindahan, marami na rin na tumatanggap ng digital payments.

Mga MSME natin natuto na na gumamit ng GCash.

Malayo na rin ang pinagbago ng konsepto ng e-wallet. Mayroon na ngayong loan, savings, at investment na puwedeng ma-access ng bawat Pilipino.

What began as a convenient way to send and receive money has grown into one of the country’s leading financial technology companies.

Today, Mynt reaches another important milestone with its listing on the Philippine Stock Exchange.

It is a significant achievement, demonstrating that world-class innovation can be built and scaled here in the Philippines.

The timing of this listing is especially meaningful, as our stock market needs renewed investor interest and broader participation.

We recognize that investors have become more cautious and that attracting fresh capital remains a challenge. But Mynt’s initial public offering gives us reason for optimism.

The strong interest it has attracted from local and international investors is proof of the continued confidence in Filipino enterprise.

With an offering that could raise as much as 61 billion pesos, this landmark IPO is an encouraging development for our capital market.

What makes this occasion even more meaningful is that ordinary Filipinos now have an opportunity to participate in these markets.

In fact, the same phone that Filipinos are using to pay bills, to buy groceries, or send money to their families can now be used also to participate in Mynt’s public offering.

Nitong ikaanim hanggang ikalabing dalawa ng Oktubre, nagkaroon ng pagkakataon ang ating mga kababayan na bumili ng stocks ng Mynt. Sa halagang 660 pesos, nakapag-subscribe ang kwalipikadong mga GStocks PH users sa 100 shares ng Mynt gamit mismo ang GCash app.

This just shows that digital technology can make investment opportunities more accessible to everyone.

For our part, we remain committed to building a capital market that is more attractive to investors and accessible to more Filipinos.

Through the Capital Markets Efficiency Promotion Act, or CMEPA, we reduced the stock transaction tax from zero-point-six percent to zero-point-one percent, helping to lower trading costs and to improve the competitiveness of our market.

We will continue to pursue reforms that strengthen investor confidence and support the development of our capital market.

I hope that Mynt’s listing will also encourage other Filipino enterprises to pursue new avenues for growth and explore the stock market.

This IPO and Mynt provides another avenue by which our populist can now be more involved and now be part of these financial and markets and create more capital which will lead to more investment.

And that is why it is very, very important what GCash has begun. It is become very, very important because not only is it a convenient way of doing business, it is also opening new methods of people to invest and to work for the future and to understand how these markets work so as to be able to plan better for their own lives.

So, to our private sector partners, let us continue investing in ideas, in enterprise, and technologies that create jobs, expand opportunities, and improve lives.

For its part, the Government will continue to work to improve the ease of doing business, promote fair competition, and to support responsible innovation.

I hope this milestone mark the beginning for greater opportunities for Filipino enterprises, renewed confidence in our capital markets, and broader participation in our country’s economic growth.

Once again, congratulations to Mynt, GCash, and everyone who made this milestone possible.

Thank you very much and have a pleasant day ahead. [applause]

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