US neobroker Robinhood Markets (NASDAQ:HOOD), fresh off reporting record results for 2024, is looking to further expand in the retail financial services sector, announcing the launch of Robinhood Banking alongside a few other initiatives.
At its second annual Gold keynote event held yesterday, Robinhood announced advisory, banking, and AI products – but the biggest bombshell was clearly the launch of Robinhood Banking.
Robinhood Banking
Technically, Robinhood Banking is a financial services platform offered by Robinhood Money, LLC (RHY). RHY is a financial technology company, not an FDIC-insured bank. Banking services will be provided by Coastal Community Bank, Member FDIC. FDIC insurance only covers the failure of an FDIC-insured…
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