PANews reported on January 21 that according to Bloomberg, Martha Sazon, president and CEO of GCash, a major fintech platform in the Philippines, said on Monday that the company is preparing for an IPO and is building its financial product suite in addition to payments. "We hope to further expand our lending business and investment platform to support our artificial intelligence work," Sazon said in an interview during the World Economic Forum in Davos. She said GCash is also working with the Philippine government to issue bonds through its application. The company already allows users to buy insurance, stocks, crypto assets and offers savings products.

Sazon said GCash is discussing a possible public offering with banks, and the specific situation will depend on market conditions: "There is a lot of discussion about the IPO, and we certainly hope that it will happen. But there is no definite plan yet. We are also considering various options and timing and are in talks with banks." People familiar with the matter said that the IPO could raise US$1 billion to US$1.5 billion, and the company has selected banks to be responsible for possible stock sales this year.