Robinhood’s new debit card will automatically invest in stocks and crypto as you spend

Robinhood’s new Cash Card. | Image: Robinhood

Robinhood has announced a new debit card, branded as the Robinhood Cash Card. The card will be linked to a spending account separate to users’ brokerage accounts, and work for in-person and online payments as well as ATM withdrawals. The new card will replace Robinhood’s current Cash Management debit card, originally announced in 2019.

The card’s big new feature is the option for users to automatically invest in assets like stocks and crypto when spending money. Robinhood will round up transactions made using the card to the nearest dollar, and use that extra money to buy assets chosen by the user. So, you might spend $10.55 on a burrito bowl with your Cash Card, and Robinhood will round the payment up to $11 and use the extra $0.45 to…

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Source: theverge
Robinhood’s new debit card will automatically invest in stocks and crypto as you spend