Coinbase is expanding its financial footprint in the United Kingdom by launching a new savings account product that bridges traditional banking and digital assets.
The new offering, which comes barely weeks after the exchange reported its strongest quarter in over a year, will provide UK customers with daily interest on GBP balances, full deposit protection, and instant access to funds.
Coinbase rolls out regulated savings accounts in the UK
Coinbase’s new savings feature is rolling out to select UK users on November 11, with broader access planned in the coming weeks.
The account is powered by ClearBank, a UK-regulated institution. It ensures that customer funds are protected under the Financial Services Compensation Scheme (FSCS) up to £85,000.
This gives users the same level of protection offered by traditional UK savings accounts.
The Coinbase Savings Account is offering a variable annual equivalent rate (AER) of 3.75%, calculated daily.
The interest will be added to a user’s balance once the earned amount reaches one penny.
The account requires no minimum deposit, includes no lockup period, and allows instant withdrawals.
Interest stops accruing on days when funds are withdrawn or when an account is closed, but users retain any interest earned before that point.
Unlike crypto lending or staking products, the Coinbase savings account operates as a standard regulated offering.
Interest rates may change in line with the Bank of England’s base rate adjustments.
Rate increases take effect immediately, while decreases are usually communicated in advance unless directly linked to Bank of England decisions.
Funds can be transferred back to the user’s GBP balance at any time.
They can then be used to buy cryptocurrency, make card purchases, or withdraw to a linked bank account.
This integration aligns with Coinbase’s goal of creating a single platform that combines crypto and traditional financial services.
Coinbase strengthens UK strategy amid regulatory focus
The launch comes as Coinbase intensifies its focus on the UK market, which remains its largest outside the United States.
Earlier in 2025, Coinbase secured its Virtual Asset Service Provider (VASP) registration from the UK Financial Conduct Authority (FCA).
This approval allowed the company to expand its range of regulated product offerings in the country without fears of regulatory backlash.
In 2024, Coinbase’s UK subsidiary was fined £4.5 million by the FCA for breaching restrictions related to high-risk customers.
In 2025, the Central Bank of Ireland also fined Coinbase Europe €24.7 million for gaps in transaction monitoring and anti-money laundering controls between April 2021 and March 2025.
But Coinbase has since strengthened its compliance programs after the VASP registration.
Coinbase UK CEO Keith Grose has said that the new savings account reflects the company’s mission to provide British customers with flexible and trusted financial solutions.
“We are focused on building products tailored to local UK needs that solve real pain points,” Grose stated, adding that the goal is to make Coinbase the UK’s top financial app.
Mitesh Savjani, Coinbase UK’s Product and Growth Lead, emphasized that the new feature supports the company’s broader vision.
He said it aims to integrate crypto services with traditional financial systems.
“Supporting a high-interest and instant-access savings account alongside our trusted crypto exchange is a step toward updating the financial system for the UK,” he said.