GCash's parent raised ₱60.9 billion. The CEO's stake is about $23 million.

If someone in your family gets money through GCash, the company behind that wallet sold shares to the public this week. On Tuesday, October 20, Mynt listed in Taguig on the Philippine Stock Exchange, the country's stock market, under the ticker GCASH.

The offer price was ₱6.60. The exchange said the sale raised ₱60.9 billion, the largest initial public offering that market has had.

The record it passed sits in a familiar aisle. Monde Nissin, the food company behind Lucky Me noodles, raised ₱55.89 billion when it listed in June 2021. Martha Sazon, Mynt's president and chief executive, stood on the trading floor when the bell rang, in a group that included Philippine President Ferdinand Marcos Jr.

On Saturday, Rappler, the Manila news site, called her a newly minted billionaire. She holds 220.1 million shares. At ₱6.60, that is ₱1.45 billion.

In dollars, it is about $23 million. The rate is about 63 pesos to the dollar, the conversion Channel News Asia used when the Singapore broadcaster put the full ₱60.9 billion sale at about $967 million.

She sold about 44 million shares in the offering. Before taxes and fees, that is about ₱291 million, or about $4.6 million. She keeps roughly 176 million shares, worth about ₱1.16 billion at the offer price, about 0.26 percent of the company.

A dollar billionaire and a peso billionaire are not the same fortune. Twenty-three million dollars is still a serious personal stake. The company around that stake is larger: at the offer price the exchange valued Mynt at ₱441.51 billion, about $7 billion, and called it the seventh-largest domestic name on the board.

A bit more than ₱50 billion of the ₱60.9 billion paid people who already owned shares. Mynt sold about 1.61 billion new shares for the company itself, about ₱10.6 billion before fees.

The Philippine Daily Inquirer, reading the final prospectus, put Mynt's own net proceeds at about ₱9.42 billion. Of that, ₱5.65 billion, 60 percent, is set aside for lending from 2027 through 2029.

Evelyn Ng, Mynt's chief financial officer, said the long-term owners were staying. That group is Globe Telecom, the mobile carrier; Ayala Corporation, the conglomerate that co-owns Globe; Ant Group, the digital payments company; and MUFG, Japan's Mitsubishi UFJ Financial Group.

The shares that moved came mostly from early investment funds, and from some executives. Sazon was one of them.

Globe appointed her to the job, effective June 1, 2020. Ernest Cu, then Globe's president and chief executive and now Mynt's chairman, named her to succeed Anthony Thomas. She studied accountancy at the University of the Philippines Diliman, finished cum laude, and had already spent 12 years at Globe.

By June 30, 41.5 million people were using GCash in a month. She has said nearly 90 percent of customers live in low- and middle-income households. For a lot of families sending from the United States, that is the account on the other end of the wire.

The first half of 2026 was still a payments business, with lending growing beside it. Revenue was ₱43.27 billion, up 10.4 percent from a year earlier. Net income was ₱10.82 billion, up 7.3 percent.

Joseph Samuel Tang, who runs capital markets at Mynt, said payments were about 57 percent of that revenue and digital financial services, loans and investments included, were about 43 percent. He said the aim is to pull those two closer over the next several years.

The loan book was ₱70.5 billion at the end of June. In those six months the company set aside ₱7.93 billion for loans that might not be repaid. The share of loans behind on payment fell to 4.9 percent, from 7.5 percent at the end of 2025.

The new capital is aimed at that book. Money sent from a U.S. paycheck on Friday still has to show up as cash in a wallet.

The offer was made in the Philippines. Mynt's papers say the shares were not registered under the U.S. Securities Act, the law that covers a public sale to American buyers, and that there would be no public offering in the United States. Inside the app, the exchange said, 140,725 GCash subscribers put in about ₱1.1 billion, roughly ₱7,800 each.

The stock closed Tuesday at ₱6.60, the offer price, after trading as high as ₱6.76. On Friday, October 23, it closed at ₱6.27, 5 percent under the offer.

At that close, the shares she still holds were worth about ₱1.10 billion, about $17.5 million. Saturday's ₱1.45 billion counted the shares she sold, too, and it used the offer price.

The wallet limits are the ones posted for October 1. GCash's help page caps a basic account at ₱5,000 coming in each month, about $80. A fully verified adult account lists ₱1 million a month, about $16,000.

If a transfer fails, look at the verification on the account that was supposed to receive it.

Send Money to the Philippines From the U.S. covers the corridor, including delivery into a wallet. Compare Remittance Fees to the Philippines From the U.S. is where the pesos that arrive get written next to the fee. The Remittance Fee Comparator is for the quotes you already have open.

Read the receipt, then the limit on the account. That monthly cap is what decides whether this week's send arrives.

This is educational reporting on Mynt's October 20 listing, the exchange's offer terms, and GCash's published wallet limits. It is not a reason to buy the stock or to pick a remittance app. The receipt and the account limit are the figures that count.