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Robinhood formed the new subsidiary Robinhood Money and discontinued its existing cash management product

Robinhood launches new debit card to compete in fintech sector

On Tuesday, Robinhood Markets Inc launched a new debit card that will allow users to invest their spare change. This comes as the company is looking to expand beyond trading and into more consumer finance verticals.

By Arghyadeep Dutta
Published - Mar 22, 2022, 10:38 PM ET
Last Updated - Feb 21, 2024, 02:55 AM EST

• The Cash Card will give users the option to receive paychecks up to two days in advance

• Robinhood formed the new subsidiary Robinhood Money and discontinued its existing cash management product

On Tuesday, Robinhood Markets Inc. (NASDAQ: HOOD) launched a new debit card that will allow users to invest their spare change. This comes as the company is looking to expand beyond trading and into more consumer finance verticals.

With the Cash Card, users can round up their spending to the nearest dollar and invest the change in assets of their choice, Robinhood said in a blog post.

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