The fixed-income market, particularly U.S. Treasury Bills (T-Bills), is a $130 trillion industry, yet retail investors lack a simple, user-friendly way to invest in these instruments. Current options either require complex brokerage accounts or offer inefficient alternatives like low-yield savings accounts. With interest rates at multi-decade highs, there's growing demand for safe, high-yield investments like T-Bills, but the process remains cumbersome for everyday investors.

Simplifying T-Bill Investing

One way to address this gap could be to create a streamlined platform focused exclusively on T-Bills, similar to how Robinhood simplified stock trading. The platform could allow users to buy and sell T-Bills of varying durations (e.g., 4-week, 1-year) with minimal friction. Key features might include:

• Educational resources explaining T-Bills in simple terms for novice investors
• Highlighting the state tax exemptions on T-Bill interest (unlike savings accounts)
• Potential future expansion to serve corporations looking to park cash in higher-yield instruments

To handle regulatory requirements, the platform could partner with an existing brokerage that specializes in fixed-income securities.

Potential Stakeholders and Incentives

Such a platform could serve multiple groups:

• Retail investors, especially younger or novice investors seeking safer alternatives to stocks or crypto
• High-net-worth individuals looking to diversify into low-risk assets
• Partner brokerages, who could gain access to a new customer segment without building their own user interface

Revenue could come from asset-based fees (e.g., 0.1%-0.3% annually on holdings), premium features like tax optimization tools, or referral arrangements with brokerages.

Implementation Approach

A phased approach might work best:

1. MVP (3-6 months): Launch a web-based platform with basic T-Bill purchasing functionality, partnering with a brokerage for backend execution
2. Growth phase (6-12 months): Add features like auto-rollovers, tax documentation, and mobile apps
3. Expansion (12+ months): Develop tools for corporate treasury management

Compared to existing options like TreasuryDirect or traditional brokerages, this approach would focus on user experience and education while providing access to secondary markets for liquidity. The narrow focus on T-Bills could allow for deeper optimization of the investor experience compared to platforms that offer a wider range of investment products.