Retail trading platform Robinhood has launched a new debit card.
In Brief:
Robinhood Markets Inc said on Tuesday its new debit card will enable spare change investing.
Users will be able to round up their change from payments to the nearest dollar and invest it on the Robinhood platform.
Robinhood Money is a new subsidiary which will operate the payments system.
What does this mean?
Robinhood is seeking to diversify its offering beyond trading, to expand into more consumer finance verticals. It wants to compete with wider FinTech businesses like PayPal and Chime.
