SYDNEY: Australian fintech firm Stakk Ltd. (ASX: SKK) has secured a two-year master services agreement with Robinhood Markets Inc. (NASDAQ: HOOD) to provide embedded finance solutions for the U.S. trading platform’s new banking initiative.
Under the agreement, Stakk will deliver image capture, authentication, and transaction processing capabilities to support Robinhood Banking™, a premium offering targeting Gold-tier clients with checking and savings accounts and luxury benefits.
Robinhood, known for democratizing stock and crypto trading, is expanding into full-service banking to rival legacy institutions like Fidelity and Charles Schwab. The partnership with Stakk marks a significant milestone for the Sydney-based fintech, which already serves over 200 financial institutions across Australia and the U.S.
“This is a tremendous vote of confidence in what we do and how we deliver,” said Andy Taylor, CEO of Stakk. “We couldn’t be more proud to add Robinhood to our client roster.”
While financial terms remain undisclosed, Stakk noted the agreement’s material importance given Robinhood’s scale and investment in its banking ambitions. The deal includes an option for annual renewal upon mutual consent.