The U.S. Department of the Treasury selects BNY Mellon and Robinhood to participate in the Trump account program

2026-04-06 18:43:33

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ME News update, April 7 (UTC+8), , The U.S. Department of the Treasury has selected Bank of New York Mellon (BK.N) and Robinhood (HOOD.O) to participate in the Trump account plan. Bank of New York Mellon (BK.N) will serve as the financial agent to manage the initial accounts, and both sides will also collaborate to develop white-label applications. It is understood that the Trump accounts, also known as 530A accounts, are a tax-deferral investment account plan proposed by U.S. President Trump on June 9, 2025. The plan aims to set up government-funded savings accounts for the children of U.S. citizens born between January 1, 2025, and January 1, 2029. Each account’s starting amount is $1,000, and the funds are invested in index funds that track the U.S. stock market. (Source: ChainCatcher)

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