PSE Chief Ramon Monzon Sets Sights on Maya Listing After GCash Debut

Philippine Stock Exchange president and CEO Ramon Monzon is pushing for a local listing of Maya, hoping GCash parent Mynt Inc.'s stock market debut will persuade its rival to follow. Monzon said in an interview with the Inquirer that he wants to work on Maya now that GCash has been listed.

Monzon Courts Maya After GCash Debut

Monzon said Maya chair Manuel V. Pangilinan wanted the company listed in the Philippines, although its private equity investor preferred an overseas offering, possibly to secure a better valuation. A dual listing could accommodate both sides, according to Monzon. "At the very worst, he said, he wants a dual listing," Monzon said, recounting Pangilinan's position. "I want it listed in the Philippines."

The PSE chief said there was no target date yet for Maya's listing. Monzon said he hopes Mynt's experience will strengthen the case for bringing Maya to the local market. "Let's see how GCash goes," he said. "It's going to be rewarding, I hope." Asked whether this would depend on GCash's share performance, Monzon said "not necessarily," pointing instead to the foreign and domestic investors drawn to the offering.

His remarks come as Maya prepares for a potential initial public offering next year. In August, Pangilinan told the Inquirer that the plan remained "on track," although he expected GCash to reach the stock market first. "Yes. Hopefully. And we're also preparing," he said when asked about a possible listing next year. He stressed that becoming a publicly listed company required extensive preparation and the right people. Maynilad Water Services Inc., he noted, took about two years to prepare for its own debut.

A Maya listing would add another technology-related company to a market long dominated by conglomerates, banks and traditional businesses. Beyond fintech, Monzon said the exchange continued to court large privately held companies, including Mercury Drug, Unilab and Rebisco. "We've been courting some for quite a long time already," he said, noting that these companies had little need to raise capital.

Maya's Reported US IPO Exploration

According to akta.pro company records, Maya is reportedly exploring a U.S. initial public offering that could raise up to $1 billion, a move to access deeper capital markets and validate the hybrid banking-plus-crypto model. The same records list Maya as claiming the top spot among digital bank apps in monthly active users in the Philippines. Maya holds a digital banking license and Virtual Asset Service Provider registration from the Bangko Sentral ng Pilipinas, enabling hybrid banking and crypto operations.

Maya's Earlier Moves Before the Listing Push

In August 2026, Maya integrated the Philippine National ID eVerify system with its own AI-driven automation to streamline customer onboarding and identity verification, Manila Bulletin reported. Also in August 2026, Janos Schwellach joined Maya as Director of Data Science and AI, previously a Principal Solutions Architect at AWS, Fintech News Philippines reported. In July 2026, the Bangko Sentral ng Pilipinas was reviewing GCash and Maya's P10 InstaPay transfer fees, having already cut them from P15 to P10, Rappler reported.

Mynt's IPO Filing Sets the Pace

Mynt, parent of GCash, filed its Red Herring Prospectus for a proposed PHP 92 billion IPO on the Philippine Stock Exchange, Telecompaper reported on September 29, 2026. The filing followed SEC pre-effective approval and PSE notice of approval, with investor roadshows underway ahead of expected pricing.