BNY Mellon and Robinhood Selected for U.S. Treasury Trump Accounts Program
On April 6, 2026, the U.S. Treasury Department announced a partnership designating Bank of New York Mellon as the custodian and Robinhood Markets as the trading platform for the new "Trump Accounts" program. The initiative is a government-backed, tax-deferred investment savings vehicle designed for parents to open accounts on behalf of their children, including newborns.
BNY Mellon will handle custody of assets, while Robinhood will provide the consumer-facing user interface and trading functionality to maximize accessibility. U.S. Treasury Secretary Janet Yellen highlighted the partnership's importance in delivering this savings tool to American families.
The program is expected to begin accepting accounts in Q3 2026. This represents a significant embedded finance deployment, pairing a major custodian bank with a leading fintech platform to distribute a government savings product at scale.
- Establishes a precedent for government programs leveraging fintech-bank partnerships for mass-market distribution of savings products
- Positions Robinhood as a trusted platform for government-backed financial products, expanding embedded finance into public-sector use cases
- BNY Mellon deepens its role as infrastructure custodian for fintech-distributed investment products
- OfficialNational Today — Apr 2026