00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Robinhood's banking division surpassed $1 billion in deposits four months after launching in November
00:082025. In a post on X, CEO Vlad Tenev said the milestone came from 65,000 funded customers and
00:16reflects the company's expansion beyond retail, trading into broader financial services.
00:21Robinhood said banking services are provided through Coastal Community Bank while the company
00:25operates as a financial technology platform. The deposit growth comes as Robinhood prepares to
00:30launch an invite only $695 per year platinum card designed to compete with premium credit cards.
00:37The company is also expanding products, including prediction markets, which traded more than 12
00:42billion event contracts in 2025. Shares have declined 30.57% year to date and 33.14% over six
00:50months,
00:51but are up 120.4% over the past year. For all things money, visit Benzinga.com.
Comments