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Robinhood announced a partnership with the U.S. Treasury to launch "Trump Accounts," a major partnership aimed at attracting young investors. These zero-fee accounts are designed as the first investment vehicles for millions of children. Over 4 million have signed up, with 1 million set to receive $1,000 in federal seed funding. Robinhood will manage the accounts, supported by BNY Mellon. The initiative aligns with broader Federal Reserve efforts on financial inclusion and youth engagement.

Odaily Planet Daily reports that Robinhood CEO Vlad Tenev said the company’s “Trump Accounts,” launched in collaboration with the U.S. Department of the Treasury, will enable Robinhood to reach the next generation of investors and drive future growth. In an interview with CNBC, Tenev stated, “This will bring Robinhood to the next generation... For millions of children, this will be their first investment account.” He emphasized that, in the short term, the company’s focus is on the government partnership rather than direct monetization of the accounts, which will be offered with no fees or commissions.

Previously, the U.S. Department of the Treasury announced that Robinhood and BNY Mellon have been selected as partners to open tax-deferred custodial investment accounts for children born between 2025 and 2028. Robinhood will serve as the broker and custodian, collaborating with BNY Mellon to provide the front-end application and customer support. As of March 31, over 4 million children have registered for the Trump account, and more than 1 million children qualify for the Treasury’s $1,000 initial funding pilot program. Several financial institutions, including JPMorgan Chase, Bank of America, Wells Fargo, SoFi, BlackRock, and Charles Schwab, will match the federal initial funding for their employees’ children. (CNBC)