Interested investors can now avail of the government’s upcoming Retail Treasury Bonds (RTB) offering through mobile application PayMaya.
PayMaya said Wednesday the company partnered with Bonds.Ph to allow small individual investors to avail of the P30-billion issuance this week.
Powered by the Philippine Digital Asset Exchange (PDAX), Bonds. Ph is a new online investment platform where investors can add funds to their accounts using their registered mobile numbers.
The development comes as Bureau of the Treasury (BTr) is scheduled to raise as much as P30 billion from its five-year RTBs to be offered from Thursday, July 16, 2020, to August 7, and to be settled on August 12.
“We have always envisioned to provide Filipinos with affordable and secure investment instruments where they can invest and at the same time aid the government in raising funds, especially at this time,” National Treasurer Rosalia de Leon was quoted as saying in the statement.
“So we opened up our next Retail Treasury Bond offering to an online platform like Bonds.Ph that allows investors to use e-wallets like PayMaya to invest in RTBs,” she added.
Investors could invest as low as P5,000, up to an aggregate amount of P500,000. Transactions through PayMaya will be charged P5.00.
“Opening up various online channels that allows Filipinos to invest will ensure a wider participation from individual investors, particularly for this offering,” said de Leon.
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According to PayMaya, account holders just need to download the Bonds.ph app, register and verify their accounts to cash in using their mobile numbers.
Once the PayMaya account is funded, it could now transfer money to the Bonds.Ph app. When the investment matures, proceeds from the bonds can also be withdrawn straight to PayMaya accounts.
“PayMaya account holders can easily add funds to their Bonds.ph accounts using their PayMaya-registered mobile numbers, thereby democratizing access to government RTBs even to those who do not yet have a bank account,” it said.
The Bureau of Treasury has been implementing innovative and entertaining ways to encourage more Filipinos to invest. It released budget “premyo bonds” in 2019, where investors could win P1 million aside from the proceeds of the bond.