On June 2, 2025, the SEC formally issued the Notice of Approval for Entry into the SEC Strategic Sandbox (StratBox) to Pluang PH and GCash, allowing them to pilot their platforms in a limited regulatory environment.

Implemented through SEC Memorandum Circular No. 9, Series of 2024, the SEC StratBox is a regulatory sandbox that allows firms to test innovative products or services in a live but controlled setting, with the goal of eventually offering them to the public at large.

The SEC may also grant regulatory relief to sandbox participants by modifying or replacing specific licensing, registration, compliance, or other regulatory requirements that may otherwise apply during the sandbox period, according to the framework.

Indonesia-based information technology firm Pluang PH will test a mobile application that will allow retail investors in the country to trade and invest in U.S. securities, which have been pre-selected by the applicant and pre-approved by the SEC.

These securities are listed on the New York Stock Exchange and/or the National Association of Securities Dealers Automated Quotations.

“Pluang PH, a strategic partnership between Pluang Technologies Singapore and Filinvest Group’s Fdev Digital Innovations and Ventures Inc., aims to democratize access to the global markets for Filipino retail investors.

“This means that users will be able to buy and sell fractionalized U.S. stocks, enabling investments with as little as one U.S. dollar,” said SEC Chairperson Emilio B. Aquino in his keynote speech during the SEC Stratbox program.

He noted that, “After numerous revisions and a rigorous review of their testing plan, Macodimarc Technology Corporation now stands as one of the pioneers to enter the SEC Stratbox. Today, June 02, 2025, marks the official date of their approval to operate within the SEC Strategic Sandbox.”

The sandbox of Pluang PH will run for six months, and will involve a controlled group of up to 1,000 qualified buyers and retail users.

Meanwhile, GCash will seek to provide simplified and unified access to global stock markets within its application through GStocks Global.

“The journey for G-Xchange Inc. to this pivotal moment began even before their application to PhiliFINNO (SEC’s PhiliFintech Innovation Office). Gcash has been envisioning a similar model back then, long before the sandbox framework was in place. It inspired the SEC to create a regulatory facility to allow the testing of these novel financial products and services,” said Aquino.

After the issuance of the SEC StratBox framework, G-Xchange Inc. submitted its application to the SEC.

“G-Xchange Inc., the operating company behind GCash, is committed to its vision of ‘Finance for All.’ Through its GStocks Global initiative, G-Xchange Inc. aims to diversify investment options within the GCash app, offering its customers easy, affordable, and seamless access to global stock markets in partnership with EasyEquities, a renowned online investment platform,” Aquino explained.

The duration of the sandbox period will be for 24 months, and can admit up to a total of 2 million participants.

GCash and Pluang PH are required to provide the SEC with regular updates, detailing the progress of their operations, testing outcomes, and issues encountered.

The participants are also required to secure the Commission’s approval before changing the testing plan, ensuring oversight and investors’ protection from potential risks.

The sandbox could result in three outcomes: successful completion, early termination by the SEC, or voluntary withdrawal by the participant. If successful, the SEC may approve the product for offering to the general public.