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Stock trading app Robinhood will now allow customers to use AI agents on its platform, allowing customers’ AI agents to act as automated stock traders and make purchases with virtual credit cards “on your behalf,” the company said.
Robinhood announced Wednesday that it will allow customers to bring their own agents to the platform.
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important facts
Robinhood allows customers to open a dedicated agent trading account separate from their standard account, allowing them to buy and sell stocks autonomously using funds accessed by AI agents.
The company says users can pause these autonomous trades at any time and preview trades made by agents if asked.
The agent trading feature will launch in a beta release and initially support only stock trading, with options, cryptocurrencies, event contracts, and futures trading to be supported in later releases, the company said.
The stock trading platform also allows users to “spend on behalf of” with an agent by making payments with a virtual credit card for Robinhood Gold Card holders.
Robinhood says users can set spending limits for their agents and opt-in to require manual approval each time an agent attempts to make a purchase.
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Robinhood founder Vlad Tenev has an estimated net worth of $4.6 billion, making him the 924th richest person in the world as of Wednesday morning. Mr. Tenev’s wealth was built largely on the success of Robinhood. Robinhood exploded in popularity among retail investors during the coronavirus pandemic and continued to expand into other businesses, including cryptocurrencies and prediction markets. “Our mission has always been to democratize finance for everyone, and now that mission extends to AI agents,” Tenev said in a statement Wednesday.
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Other areas of the financial industry are also pushing to integrate AI agents into their businesses. In March, Trust Wallet, a crypto wallet app owned by Binance founder and billionaire Zhao Changpeng, announced similar agent AI capabilities for autonomously buying and selling cryptocurrencies.
