TLDR Tech / Fintech
Robinhood, BNY win Trump Accounts contract as signups reach 4 million
Robinhood and BNY Mellon have been selected by the US Treasury to power a new government-backed investing program for children, which has already attracted over 4 million signups. The initiative includes a $1,000 government-funded seed investment for eligible kids and restricts portfolios to low-cost US index funds until adulthood, with contributions from families and employers capped annually. By embedding early investing into a national program, the partnership positions both firms at the center of a long-term customer acquisition funnel tied to financial habits from childhood.
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