Ahmet

Ahmet from Ahmet is Investing asked about the expansion of Robinhood Banking in 2026, its flywheel effect, business fundamentals, and how it further diversifies the business.

Answer

Vlad Tenev, CEO, highlighted Robinhood Banking's strong start with over $400 million in assets and a 50%+ direct deposit attach rate. He noted the appeal of the 3.5% APY, especially for customers with over $100,000 in assets, who receive APY on both savings and checking. Shiv Verma, CFO, emphasized the flywheel effect: more net deposits lead to more assets and greater value for customers, further diversifying the business.

Ahmet inquired about the expansion of Robinhood Banking in 2026, the flywheel effect as more assets are brought onto the platform, and the business fundamentals driving diversification.

Answer

CEO Vlad Tenev highlighted banking's strong start with over $400 million in assets and over half of funded customers using direct deposit. He noted the 3.5% APY on deposits, especially for customers with $100,000+ across Robinhood products, offering APY on both savings and checking. The Gold Card's 3% cashback into brokerage creates a strong link. CFO Shiv Verma added that more net deposits lead to more assets and better customer experience, reinforcing the flywheel.