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Stock-trading platform Robinhood withdraws its application to become an official bank

baiju bhatt robinhood

  • Stock-trading platform Robinhood is withdrawing its application to become a full-service bank, the company confirmed on Wednesday.
  • In a statement to emailed to Markets Insider and other outlets, a spokesperson said the decision was voluntary.
  • Robinhood filed the application with the Office of the Comptroller of the Currency earlier this year.
  • Visit the Business Insider homepage for more stories.

Robinhood has pulled its application to become a full-service bank, the company confirmed on Wednesday.

“We are voluntarily withdrawing our OCC application for a national bank charter. Robinhood will continue to focus on increasing participation in the financial system and read more >>>

Source:: BusinessInsider.Com