According to a report by Bloomberg, Sparkassen, a group of savings banks that have been operating across Germany since its first founding in Hamburg in 1778, decided to introduce cryptocurrency trading services to its customers.

The group allows private clients to trade cryptocurrencies including Bitcoin

Ether is expected to open the facility by summer 2026, directly via the mobile banking app via the group’s securities platform Dekabank.

The news comes months after Dekabank introduced Crypto Trading and Custody Services to its institutional clients, demonstrating increased acceptance of digital assets within traditional banking systems.

German Savings Bank Association (DSGV) It reportedly supported the decision to enable crypto trading, citing increased demand and the prevalence of the legal framework under so-called European mica regulations.

Earlier this year, Bavarian Savings Bank President Matthias Diesle said in an interview with Bloomberg that savings banks should provide their clients with the opportunity to trade cryptocurrency.

That said, Bloomberg said DGSV views digital assets as a highly speculative investment despite having endured the idea.

Read more: Partner with Boerse Stuttgart Dekabank to provide crypto trading to institutional clients

DeFi savings protocol Sky posted a first-quarter loss of $5 million after interest payments to token holders more than doubled, according to a report created by Sky contributors from Steakhouse Financial.

The loss is a stark turnaround from the previous quarter, when Sky, formerly known as MakerDAO, registered a $31 million profit. The reason for the 102% increase in interest payments is the decision to incentivize use of the protocol’s newer Sky dollar stablecoin (USDS) over the existing DAI.

“The Sky Savings Rate was kept very high at 12.5% relative to the rest of the market, driving massive inflows” Rune Christensen, co-founder of Sky, told CoinDesk over Telegram. When Sky began lowering interest rates to 4.5% in February, a lot of investors stuck around, he said.

The situation is a double-edged sword for the protocol, which was among the first cohort of decentralized finance apps to spring up on Ethereum in 2017.

Sky operates similar to a traditional bank. It needs to lend to others at a rate higher than it pays its savers.

However, offering higher rates on USDS without a corresponding increase in demand for the stablecoin is hurting the protocol’s profitability, PaperImperium, governance liaison at blockchain research and development company GFX Labs, told CoinDesk over Telegram.

“USDS is a major drag on earnings,” he said. “DAI makes money. USDS, not so much.”

The push toward USDS is part of Sky’s so-called Endgame plan, an initiative led by Christensen aimed at transforming the protocol into a more decentralized and resilient system.

No new demand?

When Sky rebranded from MakerDAO and launched USDS in August as part of Endgame, the plan was that the new stablecoin would appeal to a different set of users than DAI.

USDS was designed to better comply with regulations and financial reporting requirements. It was targeted toward sophisticated investors like hedge funds, family offices and other institutions looking to dip their toes into decentralized finance.

But it’s unclear if USDS has been able to attract a substantial number of new users.

The returns investors can earn on USDS comapred to DAI is different: USDS pays out 4.5%, while DAI yields 2.75%.

Many investors swapped their DAI for USDS, meaning Sky had pay out more to people who previously were happy to earn a lower yield or, in many cases, no yield at all, PaperImperium said.

To be sure, the report said the combined supply of USDS and DAI has increased 57% since the start of the quarter. But a large part of this increase is from Ethena, the synthetic dollar protocol. It has piled over $450 million into staked USDS, and passes the yield on to those who stake its own stablecoin, USDe.

Over the past week, Ethena has switched some of its reserves from USDS to USDtb — a stablecoin backed by BlackRock’s USD Institutional Digital Liquidity Fund, or BUIDL.

The move means there’s less USDS in circulation. But it may also benefit Sky by reducing the amount of interest the protocol must pay out.

Read more: MakerDAO’s Christensen Hopes for ‘Firm Decision’ as MKR Holders Vote on Sky Brand

How much should you have saved for retirement? The answer depends on your age. Unfortunately, a substantial number of Americans are behind on their investment goals and could be at risk of running short of money in retirement because of it.

Let’s take a look at where current workers should be based on their age, and how far behind many people are when it comes to hitting this goal.

Here’s how much you should have saved by age

First things first: Here are the recommendations for how much you should have saved by age, according to Fidelity Investments:

• Age 30: One times your annual salary
• Age 40: Three times your annual salary
• Age 50: Six times your annual salary
• Age 60: Eight times your annual salary
• Age 67: 10 times your annual salary

These recommendations exist because it is much easier to invest for your future if you do so over time. When you start saving at a younger age, compound growth can work for you. Compounding helps your money grow without you having to personally invest most or all of the dollars that end up in your retirement account. 

If you don’t have these amounts saved at these ages, you can still catch up — but it will be harder since you’ll have to save more as you’ll have less time for returns to be reinvested and grow your principal for you.

How far behind are typical Americans?

Northwestern Mutual’s Planning and Progress Survey for 2025 showed what percentage of people of different generations had saved for retirement. This is only among those who actually have retirement savings. Based on that number, let’s see how many are behind:

• 22% of Millennials have less than their yearly income saved, and just 45% have three times their income or more. Since millennials are between the ages of 29 and 44, at least one in five is well below where they should be, and many older millennials are far off track from their investment goals.
• Among Gen Xers who are between the ages of 45 and 60, just 26% have six times or more of their income saved. This means close to three-quarters may be behind on saving the recommended six times their annual salary.
• Among Boomers in the 60 to 67 age range, only 28% have at least 10 times their final salary saved.

Of course, these are just averages, and some people within each generation will have a lot more saved. It’s also worth noting that this only includes people who actually have retirement savings, and since somewhere between 25% and 35% of all adults have nothing saved, the reality of how far behind people are may be even worse than these numbers make it seem.

What if you aren’t on track for retirement?

If you have less than the recommended amount saved for your later years, the good news is that you still have time to change course. You should set a savings goal based on your timeline for retirement and should automate the process of investing to make sure you hit that target.

It may require you to cut other spending, and you may have to work up to hitting your goal over time, but it’s important that you take action to invest, as you can’t survive on Social Security alone. The sooner you get started, the easier it will be to catch up, so begin working on building your nest egg today.

Data source: Author’s calculations.

That’s a $1,299 difference between a regular checking account and a top-paying HYSA. Nothing to scoff at.

Personally, I was pretty nervous when I first opened an online HYSA. Transferring $30,000 to any new bank requires a bit of research.

Here’s what I look for before moving my money:

• A high APY — Right now, 3.60% and up is the benchmark for competitive rates
• No monthly fees — Junk fees are a pet peeve of mine
• FDIC insurance — This protects your cash up to $250,000 per depositor, per bank
• Fast transfers — You’ll want access to your money if you need it quickly

Some accounts may also offer welcome bonuses for new customers! So definitely keep an eye out for those.

Put your money to work today

Checking accounts are convenient. But they’re not built for storing cash long term.

If you’ve got $30,000 sitting in a checking account, it’s quietly costing you over $1,000 each year.

Your mission this week: Open a high-yield savings account and put all your hard-earned dollars to work.

David Jagielski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool recommends Nasdaq and T-Mobile US. The Motley Fool has a disclosure policy.

Data source: Author’s calculations. The national average APY is accurate as of March 21, 2025.

That’s a big difference! If your money is sitting in a traditional savings account earning 0.41% APY, you’re essentially earning pocket change. But by moving it to a high-yield savings account with a 4.00% APY, you could make around $200 in a year — just for letting your money sit there.

The power of compound interest

The real magic happens when you let your savings grow over time. High-yield savings accounts typically compound interest monthly or even daily, meaning you earn interest on your interest.

Let’s say you leave your $5,000 in a 4.00% APY high-yield savings account for five years without adding a single dollar. Thanks to compounding, your balance would grow to about $6,083. That’s an extra $1,083 just from interest alone.

If you make regular deposits — say, $100 a month on top of your initial $5,000 — your balance could grow to over $12,000 in five years.

Start earning more than 10 times the national average on your savings today. Check out our list of best high-yield savings accounts now.

Is a high-yield savings account right for you?

A high-yield savings account is great for short-term savings goals, like an emergency fund, a vacation, or a down payment on a home. It keeps your money safe, earns solid interest, and remains easily accessible.

However, if you’re looking for long-term growth, investing in stocks or index funds may offer better returns. The stock market (as measured by the S&P 500) has historically averaged about 10% annual returns — more than doubling what even the best high-yield savings accounts offer.

It’s important to remember that your HYSA interest rate isn’t locked in either. It will fluctuate as the Federal Reserve adjusts national rates, but an HYSA will still out-earn your traditional savings account.

How to open a high-yield savings account

If you’re ready to put your money to work, opening a high-yield savings account is easy. Here’s what to do:

1. Compare rates: Look for an account with a competitive APY and no monthly fees.
2. Check for requirements: Some banks require a minimum deposit or balance to earn the advertised APY. These aren’t necessarily a dealbreaker, but make sure you can comfortably meet any such requirements before you open the account.
3. Open an account online: Many of the best high-yield savings accounts are offered by online banks and can be opened with just a few clicks on the account issuer’s website.
4. Transfer your funds: Move your money from your current checking or savings into your new account.
5. Set up automatic transfers: Consistently adding money will help your savings grow even faster.

Start comparing rates now and let your money work for you by checking out our list of the best high-yield savings accounts.