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770. News: PayPal launches stablecoin and Apple $10 billion rocks the banking world

Fintech Insider Podcast by 11:FS

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Apple Card's Savings Account Reaches Over $10 Billion in Deposits

Apple Card's high-yield savings account offered by Goldman Sachs has reached over $10 billion in deposits from users since launching in April. Following launch, Apple announced they had reached $1 billion in deposits within a week. The savings account offers an annual percentage yield or APY of 4.15%. Since launched, 97% of savings customers have chosen to have their daily cash, i.e. their cashback automatically deposited into their account,. Same accounts are managed by Goldman Sachs and are currently only available in the US.

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