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Robinhood makes second attempt at launching a high-yield account similar to banks

https://www.cnbc.com/2019/10/08/robinhood-makes-second-attempt-at-launching-a-high-yield-account-similar-to-banks.html

Ten months after the bungled launch of a checking and savings product, Robinhood announces a high-yield cash management account.

“Over the past year, we pressed the reset button and started building this from scratch,” CEO Baiju Bhatt says. “We’ve spent a lot of time and energy growing our business, and hired an all-star cast of people with financial services and risk compliance backgrounds.”

Robinhood says customer deposits will be FDIC insured at partner banks including Goldman Sachs, HSBC Bank, Wells Fargo and Citibank.

The company was valued at $7.6 billion after closing its most recent, late-stage funding round this summer.

Robinhood makes second attempt at launching a high-yield account similar to banks – RobinHood – Reddit Feed


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