With the issue of GCash's 'system reconciliation', the Department of Information and Communication Technology (DICT) has made a statement saying that they do not have any authority to audit fintech firms like GCash. Mynt, the fintech company behind GCash, has authorized the filing of a registration statement with the Securities and Exchange Commission (SEC) and a listing application with the Philippine Stock Exchange (PSE) as part of a potential initial public offering (IPO). Mynt said a public listing could also help highlight the growth of the local technology and fintech sector, while promoting the Philippines as a hub for innovation in Southeast Asia. Read more in our articles including "DICT has no ability to audit for fintech firms like GCash" and "GoTyme reaches 8 million customers, targets profitability by 2027".
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May 19, 2026With the issue of GCash's 'system reconciliation', the Department of Information and Communication Technology (DICT) has made a statement saying that they do not have any authority to audit fintech firms like GCash. Mynt, the fintech company behind GCash, has authorized the filing of a registration statement with the Securities and Exchange Commission (SEC) and a listing application with the Philippine Stock Exchange (PSE) as part of a potential initial public offering (IPO).
Mynt said a public listing could also help highlight the growth of the local technology and fintech sector, while promoting the Philippines as a hub for innovation in Southeast Asia.
Our coverage of fintech oversight includes: "DICT has no ability to audit for fintech firms like GCash"; "GoTyme reaches 8 million customers, targets profitability by 2027"; "BSP warns of accountability after BPI outage". Each article provides unique insights and information.