Svmuu News: According to sources who spoke to Semafor, the Donald Trump is expected to launch “Donald Trump” accounts next week, but there is currently no mechanism in place that allows businesses to host children’s savings accounts on their platforms.Institutions such as Chime, Empower, Fidelity, and SoFi initially hoped to obtain approval from the U.S. Treasury Department as soon as possible so they could “migrate” these accounts from the app—developed by the Treasury in collaboration with Bank of New York Mellon (BK.N) and Robinhood—to their own platforms, thereby capitalizing on user growth opportunities during the product’s initial launch phase.
One of the sources familiar with the matter said these institutions can now only hope that the relevant guidelines will be issued by August at the latest. (Jin Shi)