Coinbase is taking another major step toward integrating cryptocurrency with traditional finance in the United Kingdom, launching a new savings account for GBP balances that pays 3.75% annual interest, with full regulatory protection and instant access.
The product will begin rolling out to selected UK users on November 11, with a broader release planned in the coming weeks.
A Regulated Savings Product With Full Deposit Protection
The new savings account operates through ClearBank, a UK-licensed institution. This partnership ensures that customer funds are protected under the Financial Services Compensation Scheme (FSCS) up to £85,000, matching the protection level of traditional high-street savings accounts.
The account offers a variable 3.75% annual equivalent rate (AER), calculated daily and paid once accrued interest reaches one penny. There’s no minimum balance, no lockup period, and users can withdraw instantly at any time.
Unlike staking or crypto yield products, Coinbase’s new account is a fully regulated fiat savings product. Interest rates may fluctuate based on changes to the Bank of England’s base rate. If rates increase, adjustments take effect immediately; if they decrease, Coinbase will typically provide advance notice unless the change directly tracks the BOE rate.
Funds held in the savings account can be moved instantly back to a customer’s GBP wallet for crypto purchases, Coinbase Card spending, or bank withdrawals. Interest stops accruing once funds are withdrawn or the account is closed, though any earned interest remains in the user’s balance.
Strengthening Coinbase’s UK Financial Presence
The United Kingdom is Coinbase’s largest market outside the United States, and this launch marks another step in its evolution from a crypto exchange to a comprehensive digital finance platform.
Earlier this year, Coinbase received Virtual Asset Service Provider (VASP) registration from the Financial Conduct Authority (FCA), giving it the green light to expand regulated offerings in the UK.
The move follows a period of increased regulatory oversight. Coinbase’s UK subsidiary faced a fine in 2024, and Coinbase Europe was fined by the Central Bank of Ireland in 2025 for past shortcomings in anti-money laundering and transaction monitoring. The company says it has since overhauled compliance procedures and strengthened risk controls.
The savings feature now joins Coinbase’s expanding suite of UK financial products — including its Coinbase Card, stablecoin integration, and access to over 260 digital assets.
Coinbase described the new account as part of its mission to make its platform a “single financial interface” — bridging traditional savings and modern digital asset services under one regulated umbrella.
