Key facts
- Robinhood will provide the technology and infrastructure for new "Trump Accounts" for individuals under 18.
- The U.S. Treasury has selected Robinhood as the brokerage and initial trustee for these accounts.
- BNY will serve as the financial agent for the Trump Accounts initiative.
- The government will contribute $1,000 to eligible accounts for children born between 2025 and 2028.
- The program aims to increase market access for younger Americans and is set to launch on July 4, 2026.
Robinhood has been tapped by the U.S. Department of the Treasury to develop and operate the infrastructure for "Trump Accounts," a new initiative aimed at expanding market access for Americans under the age of 18. BNY will serve as the financial agent for these tax-advantaged investment accounts.
The program, scheduled to launch on July 4, 2026, will provide a $1,000 government contribution for eligible children born between 2025 and 2028. Robinhood's role will involve providing the necessary technology, creating an intuitive front-end experience, developing educational resources, and managing customer support through a dedicated web and app interface.
Vlad Tenev, Chairman and CEO of Robinhood Markets, expressed pride in powering the accounts and stated the company's mission is to provide the next generation with a platform to jumpstart their financial future. Robin Vince, CEO of BNY, highlighted the collaboration's role in expanding financial opportunity and investing in the U.S. economy.
Robinhood, which currently serves over 27 million users, many of whom are first-time investors, views this initiative as a way to help millions of citizens maximize compounding and build a financial legacy. The company also announced it would match the $1,000 government contribution for eligible children of its employees.