Robinhood Banking surpasses $4B in assets, CEO says

Robinhood’s banking arm has crossed $4 billion in assets, according to CEO Vlad Tenev. The milestone arrives less than a year after the company launched banking services in late 2025. To put that trajectory in context: Robinhood Banking hit $1 billion in deposits by March 2026 and blew past $2 billion by the end of the first quarter. By June 2026, the platform was reporting over $3 billion in deposits from more than 200,000 customers. From stock trades to savings accounts Robinhood, founded in 2013 by Tenev and Baiju Bhatt, built its brand on free stock trades. Robinhood Banking offers checking and savings accounts with up to 3.5% annual percentage yield for qualifying Robinhood Gold subscribers. The accounts aren’t held directly by Robinhood, which is not a licensed bank. Instead, the banking services run through a partnership with Coastal Community Bank, with FDIC insurance extended via sweep arrangements. As of August 2026, the banking platform had grown to roughly 240,000 customers with $3 billion in deposits. About 40% of those customers have enrolled in direct deposit programs. The all-in-one financial app strategy Robinhood’s banking launch is a piece of a broader strategy t...