Svmuu News: The Trump Accounts application was launched on major U.S. app stores on Thursday. U.S. Treasury Secretary Scott Bessent stated in a release: "The Trump administration is taking another step toward expanding opportunities for American families. The Trump Accounts app provides families with a simple, secure way to participate from the very beginning in a program designed to build long-term financial strength."
According to a Treasury spokesperson cited by CNBC, the app was developed in collaboration with the Bank of New York Mellon and Robinhood Markets. Starting in July, parents or guardians will be able to fund new Trump Accounts (also known as 530A accounts). Parents must first fill out a form on the Trump Accounts website to open an account for their child. While all U.S. children under 18 with a Social Security number are eligible to register, only those born between 2025 and 2028 will receive a $1,000 startup contribution from the Treasury.