Robinhood Gets the Nod to Build Trump Accounts App, Alongside BNY
The US Department of the Treasury has tapped Robinhood, alongside BNY, to help bring “Trump Accounts” to life, a new, tax-advantaged savings scheme for children. Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!) Under the arrangement, BNY will act as the financial agent, managing the accounts themselves, and Robinhood will supply the app design, technology infrastructure and customer service. While Wall Street’s old guard will hold the assets, Silicon Valley’s disruptor will have a chance to shape the user experience. “Our mission has always been to democratize finance for all,” Vlad Tenev, Robinhood’s CEO, posted on X. Robinhood is ready. ?? Our mission has always been to democratize finance for all. Honored to work with @USTreasury , @BNYglobal , @ndstudio and the Administration. Time to build. https://t.co/WOTmXYjWBl — Vlad Tenev (@vladtenev) April 6, 2026 What Are “Trump Accounts”? The scheme is, at least on paper, simple: Trump Accounts are custodial, tax-advantaged investment accounts for Americans under 18. Children born between 1 January 2025 and 31 December 2028 will receive a US$1,000 government contribution at birth. Eligibility is restricted to US citizens. The programme was established under President Trump’s characteristically named “One, Big, Beautiful Bill Act”, signed into law on 4 July. Funds will be channelled into a suite of low-cost index funds. The Treasury estimates that the initial US$1,000 contribution could grow to around US$500,000 or more by retirement age, assuming long-term market returns. As with other custodial accounts, parents (or guardians) will call
The US Department of the Treasury has selected Robinhood and Bank of New York (BNY) to collaborate on the development of "Trump Accounts," a new tax-advantaged savings program for children. This initiative, established under President Trump's "One, Big, Beautiful Bill Act," aims to provide a financial head start for future generations.
Under the agreement, BNY will serve as the financial agent, managing the accounts and overseeing the investment process. Meanwhile, Robinhood, the fintech startup known for its user-friendly trading platform, will handle the app design, technology infrastructure, and customer service. This partnership combines Wall Street's traditional financial expertise with Silicon Valley's innovative approach to finance, promising a seamless and accessible experience for users.
Vlad Tenev, CEO of Robinhood, expressed enthusiasm for the collaboration in a recent post on X. "Our mission has always been to democratize finance for all," Tenev stated. "Honored to work with the U.S. Treasury, BNY, ND Studio, and the Administration. Time to build."
Trump Accounts are designed for American children under the age of 18, specifically those born between January 1, 2025, and December 31, 2028. Eligible children will receive a $1,000 government contribution at birth. The funds will be invested in a suite of low-cost index funds, with the Treasury projecting that the initial contribution could grow to around $500,000 or more by retirement age, assuming long-term market returns.
Parents or guardians will have control over investment decisions until the child turns 18. The Internal Revenue Service reported that as of March 31, taxpayers had enrolled more than 4 million children in Trump Accounts, with over 1 million of those children opting into the Treasury's $1,000 pilot program contribution.
This project represents a significant opportunity for Robinhood to expand its reach and influence in the financial sector. By leveraging its expertise in app development and user experience, the company aims to make investing and saving more accessible to young people and their families. The collaboration with BNY and the Treasury underscores Robinhood's commitment to democratizing finance and fostering financial literacy among the next generation.
As the program gains momentum, it remains to be seen how effectively it will achieve its goals. Critics have raised concerns about the long-term viability of the investment strategy and the potential for market volatility to impact the projected growth. However, proponents argue that the initiative offers a valuable opportunity for children to build wealth and gain exposure to the stock market from an early age.
In the coming months, Robinhood and BNY will work closely to develop the app and infrastructure needed to support Trump Accounts. With the backing of the U.S. government and a dedicated team of financial experts, the program has the potential to become a landmark initiative in American financial policy. As the first participants receive their initial contributions, the stage is set for a transformative journey in shaping the financial futures of millions of young Americans.
