Robinhood’s banking arm has surpassed $4 billion in assets, CEO Vlad Tenev said, less than a year after the company launched banking services in late 2025. Robinhood Banking reached $1 billion in deposits by March 2026, exceeded $2 billion by the end of the first quarter, and reported more than $3 billion from over 200,000 customers by June. As of August 2026, the platform had roughly 240,000 customers and $3 billion in deposits, with about 40% enrolled in direct deposit programs. Tenev said the asset growth reflects users’ trust in Robinhood to manage their money. The company is also developing Trump Accounts, which it hopes will become a default tool for charitable giving in the United States. The proposed model would allow donors to place funds directly into investment accounts owned by U.S. children, reducing intermediaries and giving donors visibility into where money goes. The accounts would not charge fees, and their assets could compound over the long term at market returns. Robinhood, founded in 2013 by Tenev and Baiju Bhatt, offers checking and savings accounts with up to 3.5% annual percentage yield for qualifying Robinhood Gold subscribers. The accounts are provided through Coastal Community Bank because Robinhood is not a licensed bank, with FDIC coverage extended through sweep arrangements. The banking launch supports Robinhood’s broader effort to become a single financial app for younger consumers, combining brokerage, retirement, credit-card, crypto-trading and banking services. The Gold subscription also includes features such as cash delivery and estate planning tools.