Robinhood
Broker + banking + crypto; USDG consortium member.
- Who holds it
- A sponsor bank behind the brand — not the app you signed up with — Broker-dealer + partner banks; state crypto licenses.
- The ledger
- Split between a program manager and the sponsor bank — the modular setup that broke in Synapse.
- If it fails
- Any claim runs through the sponsor bank, and only works if the two ledgers reconcile.
Derived from Robinhood’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | hybrid |
| AI | AI assistant as the interface |
| HQ | Menlo Park, US |
| Founded | 2013 |
| Custody | Custodial |
| Regulation type | Partner-bank model |
| License detail | Broker-dealer + partner banks; state crypto licenses |
| Card | MC · Debit (Cash Card) |
| Cashback | Round-up boosts |
| Yield | ~4% Gold APY |
| Stablecoins | Yes |
| KYC | Yes |
| Active regions | North America |
| Countries | United States, United Kingdom |
| Founders | Vlad Tenev, Baiju Bhatt |
| Funding | Public (HOOD) |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @RobinhoodApp ↗
Common questions about Robinhood
What is Robinhood?
Robinhood is a fiat-and-crypto neobank, headquartered in Menlo Park, US and founded in 2013. Your money is held custodially, so Robinhood or its partner bank holds the balance and you hold a claim on it. It operates on a partner-bank model (Broker-dealer + partner banks; state crypto licenses).
Does Robinhood have a card, and where can you use it?
It issues a Mastercard debit (cash card). It is available in 2 countries, across North America.
Does Robinhood require KYC?
Yes. Robinhood requires identity verification (KYC) to open an account, as a partner-bank model.
What does Robinhood cost?
From the verified fields: cashback Round-up boosts; yield ~4% Gold APY. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Robinhood before relying on them.
Early investors
Peers
Revolut · Cash App · Mogo · Venmo · Crypto.com · Coinbase Card
Robinhood appears in
Neobanks running on someone else’s banking license (81) · Neobanks available in North America (126) · Neobanks that issue a Mastercard (150) · Neobanks in United States (66)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.