Latest news with #Openbank
Yahoo
2 days ago
- Business
- Yahoo
Best high-yield savings interest rates today, June 8, 2025 (best accounts offering 4.3% APY)
Find out how much you could earn with today's savings rates. The Federal Reserve cut its target rate three times in late 2024, which means savings interest rates are falling from their historic highs. It's important to be sure you're getting the best rate possible when shopping around for a savings account. The following is a breakdown of savings interest rates today and where to find the best offers. The national average savings account rate stands at 0.42%, according to the FDIC. This might not seem like much, but consider that three years ago, it was just 0.06%, reflecting a sharp rise in a short period of time. As of June 8, 2025, the highest savings account rate available from our partners is 4.3% APY. This rate is offered by EverBank and Openbank. However, Openbank has a minimum $500 opening deposit, while EverBank requires no minimum opening deposit. Since these rates may not be around much longer, consider opening a high-yield savings account now to take advantage of today's high rates. Here is a look at some of the best savings rates available today from our verified partners: This embedded content is not available in your region. The amount of interest you can earn from a savings account depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (savings account interest typically compounds daily). Say you put $1,000 in a savings account at the average interest rate of 0.42% with daily compounding. At the end of one year, your balance would grow to $1,004.12 — your initial $1,000 deposit, plus just $4.12 in interest. Now let's say you choose a high-yield savings account that offers 4% APY instead. In this case, your balance would grow to $1,040.81 over the same period, which includes $40.81 in interest. The more you deposit in a savings account, the more you stand to earn. If we took our same example of a high-yield savings account at 4% APY, but deposit $10,000, your total balance after one year would be $10,408.08, meaning you'd earn $408.08 in interest. Read more: What is a good savings account rate?
Yahoo
3 days ago
- Business
- Yahoo
Best high-yield savings interest rates today, June 7, 2025 (earn up to 4.3% APY)
Find out how much you could earn with today's savings rates. The Federal Reserve cut its target rate three times in late 2024, which means savings interest rates are falling. So it's important to be sure you're getting the best rate possible when shopping around for a savings account. The following is a breakdown of savings interest rates today and where to find the best offers. The national average savings account rate stands at 0.42%, according to the FDIC. This might not seem like much, but consider that three years ago, it was just 0.06%. Although the national average savings interest rate is fairly low compared to other investments, the best savings rates on the market today are much higher. In fact, some of the top accounts are currently offering 4% APY and up. As of June 7, 2025, the highest savings account rate available from our partners is 4.3% APY. This rate is offered by EverBank and Openbank. However, Openbank has a minimum $500 opening deposit, while EverBank requires no minimum opening deposit. Here is a look at some of the best savings rates available today from our verified partners: This embedded content is not available in your region. The amount of interest you can earn from a savings account depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (savings account interest typically compounds daily). Say you put $1,000 in a savings account at the average interest rate of 0.42% with daily compounding. At the end of one year, your balance would grow to $1,004.12 — your initial $1,000 deposit, plus just $4.12 in interest. Now let's say you choose a high-yield savings account that offers 4% APY instead. In this case, your balance would grow to $1,040.81 over the same period, which includes $40.81 in interest. The more you deposit in a savings account, the more you stand to earn. If we took our same example of a high-yield savings account at 4% APY, but deposit $10,000, your total balance after one year would be $10,408.08, meaning you'd earn $408.08 in interest. Read more: What is a good savings account rate? This embedded content is not available in your region.
Yahoo
29-05-2025
- Business
- Yahoo
Santander's Bold Crypto Play: Is Europe's Next $2 Trillion Bank Bet Here?
Banco Santander (NYSE:SAN) is quietly preparing for its biggest move yet in digital finance. According to people familiar with the matter, the Spanish banking heavyweight is weighing whether to roll out stablecoins through its digital arm, Openbank. The plan? Possibly launch euro- and dollar-denominated tokens, or partner with an existing player. Openbank has already applied for the necessary licenses under the EU's MiCA regulation, teeing up a potential rollout across Spain, Germany, the Netherlands, and Portugal. If approvals come through, Santander could enter the crypto ring as early as this year. Warning! GuruFocus has detected 6 Warning Sign with SAN. Why now? Stablecoins are evolving from trading tools into real-world payment infrastructure. They're being used to settle bonds, move money across borders, and support faster transactionsall without relying on traditional rails. In the U.S., Trump's pro-crypto stance and recent progress on stablecoin legislation are nudging banks to get serious. Standard Chartered estimates that the value of dollar-linked stablecoins could hit $2 trillion by 2028 if the bill passes. Santander, with its deep presence in Latin America and exposure to volatile currencies, could be positioning itself to capitalize on that momentumespecially with dollar stablecoins gaining ground in emerging markets. This isn't a sudden pivot. Santander was early to blockchaininvesting in Ripple, joining industry initiatives like Fnality, and experimenting with tokenized bonds nearly a decade ago. Now, with BBVA, Deutsche Bank, SocGen, and others jumping in, the digital asset arms race in Europe is heating up fast. If Openbank goes live, it won't just be another bank offering crypto. It could be a serious contender shaping how Europeand parts of Latin Americamove money in the next phase of finance. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
29-05-2025
- Business
- Yahoo
Santander's Bold Crypto Play: Is Europe's Next $2 Trillion Bank Bet Here?
Banco Santander (NYSE:SAN) is quietly preparing for its biggest move yet in digital finance. According to people familiar with the matter, the Spanish banking heavyweight is weighing whether to roll out stablecoins through its digital arm, Openbank. The plan? Possibly launch euro- and dollar-denominated tokens, or partner with an existing player. Openbank has already applied for the necessary licenses under the EU's MiCA regulation, teeing up a potential rollout across Spain, Germany, the Netherlands, and Portugal. If approvals come through, Santander could enter the crypto ring as early as this year. Warning! GuruFocus has detected 6 Warning Sign with SAN. Why now? Stablecoins are evolving from trading tools into real-world payment infrastructure. They're being used to settle bonds, move money across borders, and support faster transactionsall without relying on traditional rails. In the U.S., Trump's pro-crypto stance and recent progress on stablecoin legislation are nudging banks to get serious. Standard Chartered estimates that the value of dollar-linked stablecoins could hit $2 trillion by 2028 if the bill passes. Santander, with its deep presence in Latin America and exposure to volatile currencies, could be positioning itself to capitalize on that momentumespecially with dollar stablecoins gaining ground in emerging markets. This isn't a sudden pivot. Santander was early to blockchaininvesting in Ripple, joining industry initiatives like Fnality, and experimenting with tokenized bonds nearly a decade ago. Now, with BBVA, Deutsche Bank, SocGen, and others jumping in, the digital asset arms race in Europe is heating up fast. If Openbank goes live, it won't just be another bank offering crypto. It could be a serious contender shaping how Europeand parts of Latin Americamove money in the next phase of finance. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
29-05-2025
- Business
- Yahoo
Santander's Bold Crypto Play: Is Europe's Next $2 Trillion Bank Bet Here?
Banco Santander (NYSE:SAN) is quietly preparing for its biggest move yet in digital finance. According to people familiar with the matter, the Spanish banking heavyweight is weighing whether to roll out stablecoins through its digital arm, Openbank. The plan? Possibly launch euro- and dollar-denominated tokens, or partner with an existing player. Openbank has already applied for the necessary licenses under the EU's MiCA regulation, teeing up a potential rollout across Spain, Germany, the Netherlands, and Portugal. If approvals come through, Santander could enter the crypto ring as early as this year. Warning! GuruFocus has detected 6 Warning Sign with SAN. Why now? Stablecoins are evolving from trading tools into real-world payment infrastructure. They're being used to settle bonds, move money across borders, and support faster transactionsall without relying on traditional rails. In the U.S., Trump's pro-crypto stance and recent progress on stablecoin legislation are nudging banks to get serious. Standard Chartered estimates that the value of dollar-linked stablecoins could hit $2 trillion by 2028 if the bill passes. Santander, with its deep presence in Latin America and exposure to volatile currencies, could be positioning itself to capitalize on that momentumespecially with dollar stablecoins gaining ground in emerging markets. This isn't a sudden pivot. Santander was early to blockchaininvesting in Ripple, joining industry initiatives like Fnality, and experimenting with tokenized bonds nearly a decade ago. Now, with BBVA, Deutsche Bank, SocGen, and others jumping in, the digital asset arms race in Europe is heating up fast. If Openbank goes live, it won't just be another bank offering crypto. It could be a serious contender shaping how Europeand parts of Latin Americamove money in the next phase of finance. This article first appeared on GuruFocus. Sign in to access your portfolio
