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The US Treasury tapped Robinhood and BNY to power and manage Trump Accounts, the new government-backed, tax-deferred investment program for children seeded with $1,000 at birth.
The platform will be fully white-labeled and operated by the Treasury, with Robinhood providing the technology, UX, education, and customer support behind the scenes.
The deal marks a strategic shift for Robinhood from consumer brokerage to infrastructure provider.
The United States Treasury Department announced today that digital stock brokerage app Robinhood will build the brokerage platform and serve as the initial trustee for Trump Accounts, the new custodial-style Individual Retirement Accounts for children under 18.
The department selected BNY as the financial agent for the Trump Account program. BNY will be responsible for managing the initial accounts and has selected Robinhood to help develop the new Trump Accounts app. The new standalone Trump Accounts app will be fully white-labeled with no Robinhood branding and will offer an intuitive user interface and user experience that will help families to view and manage their Trump Accounts.
Along with building the front-end experience, Robinhood will also create educational resources and manage customer support for Trump Accounts.
“We are proud to power Trump Accounts with Robinhood’s technology and to work alongside a historic and trusted institution like BNY,” said Robinhood Markets CEO Vlad Tenev. “Our task is clear: to provide the next generation of Americans with a world-class, intuitive platform to jumpstart their financial future.”
Trump Accounts launch on July 4 and will serve as tax-deferred investing accounts for children. Babies born between 2025 and 2028 receive a one-time $1,000 deposit from the Treasury to seed their retirement. Currently, more than four million children have been signed up for a Trump Account. As part of its efforts, Robinhood said it plans to match the Treasury’s $1,000 contribution to Trump Accounts for eligible children of its employees.
Once the app is built, the US Treasury will retain control over the app and the operations for all accounts. The Treasury did not disclose any financial details around the agreement.
“We continue to believe that the American stock market remains the greatest wealth creation vehicle of our time,” the company said in a statement. “…by providing young Americans with a dedicated platform to engage with the markets early, Trump Accounts will help millions of citizens maximize the power of compounding and build a lasting financial legacy.”
The move positions Robinhood as an infrastructure provider. By powering a federally backed investing program at scale, the company is moving beyond consumer brokerage and into the realm of embedded financial services.
Even without branding, this partnership gives Robinhood access to one of the largest distribution channels in retail investing and demonstrates its ability to operate as a trusted backend provider for government-led initiatives. While Robinhood still values owning the customer relationship, it is now expanding its scope to own the rails, as well.
Photo by Aliaksei Smalenski
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