Robinhood Markets Inc. Chief Financial Officer Shiv Verma said states and other public-sector organizations have approached the company about partnering on their own versions of "Trump accounts" to set up early investment vehicles for newborns.
The White House initiative, which launched its app this week, could serve as a model for institutions ranging from government agencies to nonprofits that want to create or update their own similar programs, Verma said.
"We've shown we know how to work with the U.S. Treasury, which is a very high bar," Verma said of the venture, which also includes Bank of New York Mellon Corp. as a partner. "I think it's given a lot of other folks interest that maybe we can help them too."
Robinhood's ambitions to expand its public-sector partnerships shed new light on what the company stands to gain from its participation in the Trump accounts program, which has required significant capital expenditure and drawn skepticism from investors. The $1,000 seeded accounts, established last year in the One Big Beautiful Bill Act, could also give Robinhood preferential access to the estimated 14 million newborns eligible to join the program.
A number of states have already rolled out wealth-building programs for children in recent years, giving Robinhood a number of options for potential partners. California, where the company is headquartered, started a statewide scholarship savings program for children in 2022, while Connecticut rolled out a "baby bonds" initiative for low-income families in 2023.
"A lot of these programs already exist," Verma said. "They just haven't built a great product around them."
Robinhood Chief Executive Officer Vlad Tenev said on an earnings conference call a month ago that the firm had heard from states and other countries interested in offering programs similar to the Trump accounts.
Credit: Shutterstock
Copyright 2026 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.