Mynt Inc., the operator of GCash, has taken a significant step toward its IPO following board approval on June 17 to register with the Securities and Exchange Commission. The IPO could raise between $1 billion and $1.5 billion, valuing Mynt at over $8 billion.
The offering blends primary shares for capital and secondary shares for existing stakeholders. Mynt executed a stock split to broaden its share base, targeting a sale of approximately 9.23 billion shares. The SEC filing is expected by July 2026, with trading anticipated in the latter half of the year.
GCash's user base of 94 million highlights the platform's dominance in the Philippines.
While supporting USDC stablecoin, the IPO itself is not linked to digital assets or cryptocurrency structures, maintaining a traditional equity framework. Mynt's $8 billion valuation underscores its stature in Southeast Asia's fintech landscape, albeit with inherent risks tied to market concentration and growth limitations in a mature user base.