Mynt, the fintech company behind Philippine mobile wallet GCash, has secured shareholder and board approval to pursue an initial public offering (IPO), taking the first formal step toward what could become one of the country’s largest stock market listings.
In a statement on Wednesday, Mynt said its board of directors and shareholders had authorised the filing of a registration statement with the Securities and Exchange Commission and a listing application with the Philippine Stock Exchange for a potential IPO.
Under the approved terms, the offering will represent 12% of Mynt’s total outstanding capital stock after the listing and will comprise both newly issued shares and existing shares sold by current shareholders.
The common shares have a par value of 3 centavos each.
The announcement confirms long-running expectations that Mynt, one of Southeast Asia’s most valuable fintech companies, is preparing for a public market debut after years of rapid growth in the Philippines’ digital payments sector.
The company did not disclose a target fundraising amount, valuation or timing for the offering.
“The authorisation of our Board and shareholders allows us to work toward a potential public listing as the next step in Mynt’s growth journey, while continuing to focus on the priorities that have brought us to this point,” Mynt President and CEO Martha Sazon said in a statement.
GCash, the fintech platform operated by Mynt with Globe as a key founding partner, was reported last year to have hired banks including Citi, Jefferies, and UBS to work on a domestic IPO of up to $1.5 billion.
If the listing goes ahead, it would not only be the Philippines’ biggest ever, surpassing the $1-billion IPO of food company Monde Nissin in 2021, but could also reshape exit possibilities in the local startup ecosystem.
Mynt contributed 30% of Globe Telecom’s pre-tax income in the first quarter of 2026, underscoring the growing role of the telco’s fintech investment.
Globe said its equity share in Mynt rose 8% year-on-year to 1.9 billion pesos in the three months ended March, and more than doubled from the previous quarter.
Mynt operates GCash through G-Xchange and also owns the lending platform Fuse Financing.
Founded in 2015, Mynt has been backed by a roster of local and international investors, including Globe Telecom, Ayala Corp, China’s Ant Group and Mitsubishi UFJ Financial Group. Globe separately disclosed the board and shareholder approval in line with Philippine listing rules.
Mynt said the transaction remains subject to regulatory approvals from the SEC and the Philippine Stock Exchange, market conditions, the final structure of the offering and other customary closing requirements.
“We hope Mynt’s journey could also inspire Filipino companies and startups, fostering a spirit of innovation and entrepreneurship in the local tech community, all while promoting the Philippines as a vibrant hub for technology and fintech innovation in Southeast Asia,” said Sazon.
