Coinbase Rolls Out UK Savings Account Offering 3.75%: Report

• Coinbase launches a UK savings account with 3.75% daily interest and instant access.
• FSCS covers deposits up to £85,000, offering security equal to traditional banks.
• Partnership with Clearbank strengthens Coinbase’s push to merge crypto and finance.

Coinbase has launched a new UK savings account powered by Clearbank. The service began rolling out to selected users on November 11. It allows eligible customers to earn 3.75% AER variable interest on GBP balances. Users could deposit or withdraw funds instantly with no minimum balance or lock-up period, offering full flexibility.

The savings product includes protection under the Financial Services Compensation Scheme. Customer funds are safeguarded up to £85,000, matching the protection offered by traditional UK banks. Coinbase says the move ensures customers enjoy the same level of trust and security while using a digital platform. The integration of FSCS coverage aims to reinforce confidence among UK depositors.

Coinbase Unites Crypto and Traditional Finance in the UK

Coinbase UK CEO Keith Grose said the launch demonstrates a clear commitment to British users. He stated that Coinbase wants to deliver financial products that address real needs in the local market. The company aims to become the UK’s leading financial app by combining crypto, fiat, and innovative financial tools under one system.

The new account connects seamlessly with other Coinbase products. Customers could already use the Coinbase Card to spend from crypto, stablecoin, or fiat balances. The savings account now extends this ecosystem by offering a regulated, interest-bearing GBP account. Coinbase’s 3.75% rate sits above most traditional bank offers but remains below top fintech savings deals.

Mitesh Savjani, Product and Growth Lead for Coinbase UK, said the goal is to unify digital and traditional finance. He explained that British customers currently lack one platform that brings both systems together. The new account supports high-interest savings alongside Coinbase’s trusted exchange, providing access to stablecoins, over 260 digital assets, and fast payments.

Coinbase plans to extend access to the new savings product across the UK in the coming weeks. The company said this gradual rollout ensures smooth adoption and operational stability. Coinbase identified the UK as its largest international market and a central pillar of global expansion efforts.

Coinbase Reinforces UK Presence Amid Tighter Regulations

Earlier in 2025, Coinbase obtained Virtual Asset Service Provider registration from the Financial Conduct Authority. The approval made Coinbase the largest registered crypto exchange in the UK. It strengthened the firm’s ability to introduce compliant financial products, bridging regulated banking and digital assets under UK law.

The launch follows increased regulatory scrutiny across Europe. Coinbase’s UK entity faced a fine in 2024 for compliance gaps. Coinbase Europe received a $24.7 million penalty in 2025 from the Central Bank of Ireland. The fine covered deficiencies in anti-money laundering and transaction monitoring between 2021 and 2025. Coinbase said its compliance systems have been upgraded since.

Despite these issues, Coinbase continues to see the UK as critical to its long-term plan. The firm believes its regulated approach and new savings service would help restore confidence. The focus is on combining financial safety with crypto accessibility, bringing regulated innovation to everyday users.

Related: Coinbase Nears $2B BVNK Deal to Advance Stablecoin Vision

UK customers could now integrate their savings account with Coinbase’s broader platform. This setup enables users to manage both fiat and digital holdings within a single interface. The firm aims to build a system where traditional savings and digital finance operate together smoothly.

Coinbase’s partnership with Clearbank strengthens its operational base in the UK. It positions the company as a serious competitor in fintech and banking. With FSCS protection, daily interest, and instant access, the account bridges crypto and banking.

The company hopes to broaden availability to all UK users in the near future. The campaign is an indication that Coinbase aims to diversify beyond just offering exchanges into more mainstream financial services. In bridging digital and analog finance, Coinbase is reinventing financial services.