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

ZkProver · 2026-04-06T16:12:48+00:00

ChainCatcher reports that, according to The Wall Street Journal, 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 agent managing the initial accounts, and the two parties will also collaborate on developing a white-label application.It is reported that the Trump account, also known as the 530A account, is a tax-deferral investment account plan proposed by President Trump on June 9, 2025. The plan aims to establish government-funded savings accounts for the children of U.S. citizens born between January 1, 2025, and January 1, 2029. Each account starts with an initial amount of $1,000 and invests in index funds tracking the U.S. stock market.

ZkProver

2026-04-06 16:12:48

ChainCatcher message, according to a report by The Wall Street Journal, the U.S. Treasury has selected BNY Mellon Bank (BK.N) and Robinhood (HOOD.O) to participate in the Trump account program. BNY Mellon Bank (BK.N) will serve as the financial agent to manage the initial accounts, and the two sides will also cooperate to develop a white-label app.

It is understood that the Trump account, also known as the 530A provision account, is a tax-deferred investment account plan proposed by U.S. President Trump on June 9, 2025. It is intended to set up government-funded savings accounts for children of U.S. citizens born between January 1, 2025, and January 1, 2029. Each account has an initial amount of $1,000 and invests in index funds that track the U.S. stock market.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

2 Likes