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

2026-04-06 19:43:03

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ME News message, 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 program. Bank of New York Mellon (BK.N) will serve as the financial intermediary to manage the initial accounts, and the two sides will also cooperate to develop a white-label application. It is reported 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 establish government-subsidized savings accounts for the U.S. citizen children of those born between January 1, 2025, and January 1, 2029. Each account starts with $1,000 and is invested in index funds that track the U.S. stock market. (Source: ChainCatcher)

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