Cryptocurrency trading platform Robinhood plans to expand its range of services by introducing a banking product for Gold premium customers. The company aims to become a universal financial provider for retail investors, informs Bloomberg,
In the second half of 2025, Robinhood intends to launch savings and current accounts with attractive terms – the annual interest rate on savings is expected to reach around 4%. Banking will be through FDIC covered Coastal Community Bank.
Among the proposed innovations is the possibility of instant home delivery of cash through the application, as well as access to inheritance planning and tax consulting services. These steps are part of the strategic course to create a complex financial ecosystem, which was previously announced by the company’s CEO, Vlad Tenev.
In addition to banking products, Robinhood will also introduce its own investment service with an annual service fee of up to $250 for premium customers. In addition, the company presents a tool based on artificial intelligence — Robinhood Cortex, which will allow users to more effectively manage their investment portfolios.
We will remind that Robinhood previously reported record financial results for the fourth quarter of 2024: revenues from cryptocurrency operations increased by 700% compared to the same period last year and reached $358 million.
