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Robinhood: Fintech start-up and zero-fee trading app applies for traditional banking service charter

MarketLine

The company has stated “This is a first step towards being granted a national bank charter which would allow Robinhood to offer traditional banking products and services,” a strategy that will please users and potential investors. The move will mean if the charter is approved, the company will be able to offer a full-service bank product alongside its no-fee trading platform. The application will without doubt be supported by the company’s upcoming IPO, said to be worth $5.6bn. The US-based company raised $363m in its latest Series D round of… Read more