Starting in October 2025, DriveWealth Bank Sweep Deposit Program customers’ cash will be automatically swept into a network of multiple FDIC-insured banks, enabling coverage of up to $1 million per customer — significantly higher than the standard single-bank $250,000 limit.
This enhancement provides DriveWealth partners with additional protection and value, reflecting our ongoing commitment to delivering institutional-grade infrastructure. It’s a meaningful step forward in helping our partners offer best-in-class financial products that build trust with their end users. By expanding coverage, we’re enabling partners to serve a broader customer base — from first-time investors to high-net-worth individuals — with greater confidence.
The experience will remain seamless and fully integrated within our platform, requiring no additional operational lift. As always, we’re focused on simplifying complexity behind the scenes so you can focus on building differentiated user experiences. This update is part of a broader roadmap to enhance the safety, scalability, and competitiveness of your offerings. To learn more, please visit our developer site.
About DriveWealth:
DriveWealth is a global B2B financial technology platform. Our core business is providing Brokerage-as-a-Service, powering the investing and trading experiences for digital wallets, broker dealers, asset managers, and consumer brands. DriveWealth’s APIs provide our partners with a modern, extensible and flexible toolkit to develop everything from traditional investment workflows to more innovative techniques like rounding up purchases into fractional share ownership. For more information, visit www.drivewealth.com.