GCash, a fintech platform in the Philippines, is reportedly making plans for an IPO this year.

The company has reportedly chosen JPMorgan Chase & Co., Morgan Stanley, and UBS Group AG to assist in the IPO process.

Other banks, including HSBC Holdings Plc and Jefferies Financial Group Inc., may also participate, but final decisions have yet to be made.

Additional banks could be added as discussions progress, speaking on the condition of anonymity.

GCash, which is owned by Globe Fintech Innovations Inc. (Mynt), has not issued an official statement regarding the IPO.

GCash aims to raise between US$1 billion and US$1.5 billion through the IPO, scheduled for the second half of 2025.

The mobile app, widely used in the Philippines, offers services like bill payments and money transfers, with around 94 million users.

Recent GCash developments