Apple and Goldman Sachs Halt Futures Trading App

Apple and Goldman Sachs recently decided to halt their project aimed at launching a futures trading app, as CNBC unveiled on Sept. 19. Originally scheduled for a 2022 release, the app saw delays due to the challenging economic environment, marked by rising interest rates and escalating inflation concerns. These factors deterred many from making high-risk investments.

Despite these setbacks, insiders claim that most of the project’s foundation stands ready for deployment, should Apple decide to move forward. It remains uncertain, however, if the app’s scope was to encompass crypto futures trading.

Seeking to expand its offerings during the pandemic, Apple turned its focus to financial solutions for its US clientele. This shift led to a collaboration with Goldman Sachs to advance these aspirations.

Their first joint endeavor saw the light in 2019 in the form of a credit card. More recently, Apple introduced a “buy now, pay later” feature, designed to enable users to divide their purchases into four interest-free payments. Come April, Apple unveiled a new offering supported by Goldman Sachs: a savings account boasting a 4.15% annual yield.