GCash Eyes 10-15% Public Float in Upcoming IPO to Expand Financial Services

The Philippine fintech giant GCash has announced plans to pursue an initial public offering (IPO) that aims for a public float of 10 to 15 percent. This strategic move comes as the company seeks to capitalize on its rapid growth and further solidify its position in the Southeast Asian financial services market.

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Philippines to Enhance Fintech Oversight Following Major E-Wallet Service Disruption

The Philippines plans to strengthen its regulatory framework for financial technology (fintech), particularly after a significant disruption in the electronic wallet service GCash. This incident, reported as one of the largest outages to hit the platform, raised concerns regarding the resiliency and oversight of digital finance systems in the country. GCash, which is widely used across the Philippines for various transactions, experienced a glitch that left many users unable to access funds or complete transactions, resulting in public outcry and calls for improved security measures.

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