Department of Finance (DOF) Secretary Ralph G. Recto has urged GCash, the Philippine Digital Asset Exchange (PDAX) Inc., and regulators to expedite the launch of GBonds for financial inclusion for Filipinos.

Recto announced, during the Bureau of the Treasury’s (BTr) 127th Anniversary and Government Securities-eligible Dealer (GSED) Awarding Ceremony on Nov. 12, that the government will launch GBonds with GCash in December to make investing even easier and “more accessible to the public.”

He committed to improving policies that strengthen financial institutions and modernize the Philippine capital market to support GSEDs and Filipinos’ financial freedom.

“For we envision a future where investing in government bonds is no longer a luxury but a new normal for Filipinos—with just a few swipes away and as easy as ordering their favorite food delivery,” Recto said, adding that this initiative allows Filipinos to easily secure their future from the comfort of their homes.

Recto also assured that the country’s economic team will continue promoting a stronger economy with favorable conditions for growth and investment as it drives retail participation and digital transformation.

GSEDs raise P587 billion from debt securities

Prior to the call, Recto also reported that GSEDs helped raise an “unprecedented amount” of P586.84 billion through debt securities this year.

According to Recto, this was the largest amount ever raised from their Retail Treasury Bonds (RTBs), which helped cover more than one-fifth of the government's funding needs for the year, and it was done in a “cost-effective manner.”

“For this historic feat, I commend our GSEDS, especially the top 10 of them, for relentlessly reaching out to our investing public, especially our retail sector and ordinary Filipinos,” the finance chief said.

GSEDs are Securities and Exchange Commission (SEC)-licensed securities dealers regulated by government agencies including Bangko Sentral ng Pilipinas (BSP), SEC, or the Insurance Commission (IC).

They can participate in the primary auction of government securities, enhancing market depth and liquidity through trading and supporting the BTr’s capital market development initiatives.

In addition to this, Recto also said that the GSEDs also helped the government raise P264.12 billion ($4.5 billion) through global bond issuances this year.

Metrobank ranked as the top GSED for this year, with Banco de Oro Universal Bank (BDO), Bank of the Philippine Islands (BPI), China Bank, Citibank, Development Bank of the Philippines (DBP), Landbank, Philippine National Bank (PNB), Security Bank, and Standard Chartered Bank also included in the top 10.

In line with this, Recto urged GSEDs to “remain agile and adaptive in their role as prime market movers and drivers” of the country’s development.

“Together, let us transform our capital market as a means for every business and every Filipino to be shareholders in the country’s inclusive growth,” he said.