Mynt, parent of Philippine digital wallet GCash, debuted on the Philippine Stock Exchange in the country’s largest IPO, raising 60.9 billion pesos as digital payments surge.

Fintech firm Mynt, the company behind the widely used Philippine digital wallet GCash, began trading on the Philippine Stock Exchange on Tuesday in a milestone listing that set a new record for the country’s equity market.

The debut is the biggest initial public offering ever completed in the Philippines, raising 60.9 billion pesos—about 965million—basedonthecompany’sstatedproceeds.Myntsaidtotalproceedsfromthetransactioncouldapproach965 million—based on the company’s stated proceeds. Mynt said total proceeds from the transaction could approach 1 billion, underscoring the scale of investor demand for the GCash parent as digital payments continue to expand in the archipelago.

The listing ceremony in Manila drew high-level attention, with President Ferdinand Marcos Jr. attending the event. His presence highlighted the broader national interest in the growth of financial technology and the role of digital platforms in widening access to payments and other financial services.

Mynt’s market debut places one of the Philippines’ best-known consumer fintech brands under the scrutiny and transparency requirements that come with being a publicly traded company. GCash, operated under Mynt, has become a familiar tool for electronic transactions in the Philippines, and the IPO formally brings its parent into the public markets at an unprecedented scale for the local exchange.

The size of the offer—60.9 billion pesos—makes it the largest IPO in Philippine history, setting a benchmark for future listings and signaling that major domestic technology-enabled businesses can tap local capital markets for large fundraising rounds. The near-$1 billion proceeds figure also positions the transaction among the most significant equity fundraisings in Southeast Asia this year, based on the amounts disclosed.

Why it matters

A record-setting IPO for Mynt could help deepen the Philippines’ capital markets and encourage other high-growth tech and fintech firms to consider local listings. For consumers and businesses that rely on GCash, public-market scrutiny may bring greater transparency around the company’s performance and strategy. Investors and regulators will be watching how Mynt uses the proceeds and whether its listing spurs more large-scale offerings in Manila.