The U.S. Department of the Treasury announced that it has designated The Bank of New York Mellon Corporation as a financial agent to support the rollout of the new Trump Accounts program, a federally backed savings initiative for children.
Under the designation, BNY will manage the initial accounts and help develop the program’s digital infrastructure, including a dedicated app designed to allow families to access and manage accounts. The Treasury said the platform will be a custom, white-label product built exclusively for the government, with full operational control retained by the agency.
As part of the implementation, Robinhood Markets Inc. has been selected to serve as the brokerage and initial trustee for the accounts. The partnership is intended to streamline onboarding and ensure eligible children can access accounts efficiently once the program launches.
The app is being developed in collaboration with the National Design Studio and Robinhood, with a focus on creating a user-friendly interface and seamless experience for families. Treasury emphasized that the system will prioritize accessibility, security, and ease of use.
The Trump Accounts program is part of a broader federal effort to expand long-term savings opportunities and financial access for younger Americans. Treasury noted that it will maintain strict oversight, performance standards, and security controls as part of its financial agent authority to safeguard public funds.
