Public.com clients now have access to Treasury Accounts
Public.com clients now have access to Treasury Accounts
Public.com, a brokerage company, spotlighted that its clients now have access to treasury accounts.
Clients of Public.com can now benefit from the current 5.1% treasury bill yield as well as access to accounts where they can keep their funds. The broker took this step to meet its clients' demand for high-yielding assets.
Teasury bills are debt securities issued by the US Treasury with maturities of up to one year. By purchasing a bill, you actually transfer funds to the state, which pays you a percentage in return. When a bill's term expires, it is redeemed at face value.
The Treasury Account is an account from Public.com that allows you to make deposits starting at $100. The funds are used to purchase treasury bonds, which provide you with a fixed percentage of income.
All bills are held by the Bank of New York Mellon. However, clients can sell them at any time.
