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Robinhood’s
new partnership with the U.S. Treasury Department on children’s so-called Trump Accounts is going to drive exposure to the company among emerging investors, benefiting its future growth, according to Vlad Tenev.
On Monday, the Treasury said it has selected Robinhood alongside BNY Mellon to help power Trump accounts – tax-deferred, custodial-style investment accounts for children set to launch this summer with a $1,000 seed contribution from the government for kids born between 2025 and 2028 — and build the app linked to it.
Tenev, the CEO of the investing app, called it an evolution of the American Dream and a key part of the company’s own mission to “democratize finance for all,” speaking to CNBC’s “Squawk on the Street” Tuesday.
