GCash, a fintech platform that provides cryptocurrency products, is preparing for an IPO and plans to raise $1 billion to $1.5 billion

Odaily News Major Philippine fintech platform GCash is preparing for an initial public offering and is building out its suite of financial products in addition to payments, its president and CEO Martha Sazon said on Monday.
“We want to further scale our lending business and investment platform to support our AI work,” Sazon said in an interview on the sidelines of the World Economic Forum in Davos.
She said GCash is also working with the Philippine government to issue bonds through its app. The company already allows users to buy insurance, stocks, crypto assets and offers savings products.
Sazon said GCash is in talks with banks about a possible public offering, which will depend on market conditions: "There is a lot of talk about an IPO, and we certainly hope it will happen. But there is no definite plan yet. We are also considering various options and timings and are in talks with banks."
The IPO could raise $1 billion to $1.5 billion, and the company has selected banks for a possible share sale this year, people familiar with the matter said. (Bloomberg)