Robinhood Markets, Inc.

NEW YORK, April 14, 2026 /PRNewswire/ -- Pinwheel, the fintech helping banks win primacy with frictionless account activation and engagement experiences, was chosen as the direct deposit launch partner for Robinhood Banking.

Robinhood (NASDAQ: HOOD) selected Pinwheel Deposit Switch for its PreMatch technology, the most advanced switching experience available in the market. Across the industry, there's a 40% inactivity rate after first funding, which was why reimagining the direct deposit onboarding experience was a top priority for Robinhood Banking.

Pinwheel's category-shattering invention of PreMatch in 2023 enabled near instant direct deposit enrollment within the account opening experience, where consumer intent to switch is highest. Prior to PreMatch, digital direct deposit solutions required users to search for their payroll provider - which many consumers do not know - and authenticate with usernames and passwords for their payroll provider experiences - for which most do not have access. Pinwheel PreMatch users convert to a successful direct deposit switch at a 2X higher conversion rate than users routed through legacy solutions. With PreMatch, eligible Robinhood customers will have their active payroll accounts automatically identified and surfaced for switching after verifying via Multi-Factor Authentication.

"Direct deposit switching has been a friction point in account onboarding for too long — that ends now," said Jaimeson Rice, CEO of Pinwheel. "With Pinwheel Deposit Switch, Robinhood Banking raises the bar for the entire financial services industry, improving access and convenience for consumers."

Pinwheel Deposit Switch is now available for rapid deployment on most banking technology platforms. To find out how your financial institution can participate, contact us.

About Pinwheel

Pinwheel helps banks, CUs and fintechs win primacy by delivering frictionless digital experiences. Our industry leading Switch Kit, enabling instant deposit and bill switching at account opening, delivers 30% more switches than any competitive solution. Through our proprietary network covering 1,800 payroll providers, 1.5 million employers, and thousands of merchants, Pinwheel connects financial institutions to real-time, source of truth income, employment, deposits and payments data - so banks can deliver personalized services that help customers better manage their complete financial lives. Pinwheel is the provider of choice for some of the world's most innovative financial providers, including American Express, MoneyLion, Credit Karma and many more. Pinwheel has raised $77M from top-tier investors such as Notable, Coatue, First Round Capital, Upfront and more.

Disclosure

Robinhood Banking is a financial services platform offered by Robinhood Money, LLC (RHY). RHY is a financial technology company, not a bank. Banking services are provided by Coastal Community Bank, Member FDIC. Robinhood Banking is exclusive to Robinhood Gold members. Robinhood Gold is a subscription-based membership program of premium services offered through Robinhood Gold, LLC (RHG). RHY and RHG are subsidiaries of Robinhood Markets, Inc. (Robinhood).

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SOURCE Pinwheel

Miami International Holdings Retains 10% Stake in the Exchange and Clearinghouse

PRINCETON, N.J. and MIAMI, Jan. 21, 2026 /PRNewswire/ -- Miami International Holdings, Inc. (MIAX^®) (NYSE: MIAX), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today announced it has completed the sale of 90% of the issued and outstanding equity in MIAX Derivatives Exchange (MIAXdx™), a wholly owned subsidiary of MIAX, to a joint venture established by Robinhood Markets, Inc. (Robinhood) (NASDAQ: HOOD) in partnership with Susquehanna International Group. MIAX has retained 10% of the issued and outstanding equity of MIAXdx.

MIAXdx is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) with regulatory approval from the Commodity Futures Trading Commission (CFTC) to list and clear fully collateralized futures, options on futures, and swaps.

"Our sale of MIAXdx reaffirms our strategy of partnering with industry leaders to accelerate our growth strategies and we're pleased to gain exposure to the growing prediction market through our retained equity stake in the exchange," said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX. "MIAX is laser focused on organic growth opportunities within our core exchanges and believe the sale of 90% of MIAXdx unlocks significant value for our shareholders. We look forward to seeing what's ahead for MIAXdx and remain invested in its long-term success."

"The purchase of MIAXdx accelerates our investment in the prediction markets and improves our position to deliver a better experience for customers in this growing asset class," said JB Mackenzie, VP and GM of Futures and International at Robinhood. "We're grateful to MIAX for their trust and retained investment in the venture, and we look forward to exploring future partnership opportunities with a technology driven leader in the exchange industry."

About MIAX

Miami International Holdings, Inc. (NYSE: MIAX) is a technology-driven leader in building and operating regulated financial markets across multiple asset classes and geographies. MIAX operates eight exchanges across options, futures, equities and international markets including MIAX^® Options, MIAX Pearl^®, MIAX Emerald^®, MIAX Sapphire^®, MIAX Pearl Equities™, MIAX Futures™, The Bermuda Stock Exchange (BSX) and The International Stock Exchange (TISE). MIAX also owns Dorman Trading, a full-service Futures Commission Merchant. To learn more about MIAX, please visit www.miaxglobal.com.



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Investors

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Media

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SOURCE MIAX