Block Inc. (NYSE:XYZ) is one of the high-growth large-cap stocks to invest in now. On June 12, Block Inc.’s (NYSE:XYZ) financial services unit, Square Financial Services, launched a higher-yield savings tier, offering a 3.50% annual percentage yield.
The 3.50% annual percentage yield applies to Square sellers who maintain a daily balance of more than $10,000 in their Square Savings accounts. The service automatically activates whenever sellers reach the $10,000 threshold, with the rate applying to the entire balance and calculated daily. The savings account has no minimum deposit requirement to open and no monthly fees.
The unveiling of the high-yield savings account comes on the heels of Block launching Cash App Tags, an NFC-enabled payment accessory. The service allows cardholders to make purchases without their phones or wallets. Cash App Tags are linked to the Cash App Visa Card and function as an alternative payment method to physical cards and digital wallets. It seeks to capitalize on the fact that 1 in 5 American teens currently use the Cash App Card.
Block Inc. (NYSE:XYZ) is a global financial technology company that provides tools to increase economic access. Its diverse ecosystem includes solutions for businesses to accept payments, tools for consumers to manage personal finances, streaming platforms, and blockchain/Bitcoin-focused divisions.
While we acknowledge the risk and potential of XYZ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than XYZ and that has 10,000% upside potential, check out our report about this cheapest AI stock.
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