Coinbase has taken another bold step into mainstream finance by introducing a savings product for users in the United Kingdom, signaling a deeper move beyond its crypto exchange roots.
- Coinbase debuts a UK savings account with 3.75% daily interest and FSCS protection.
- The feature, powered by ClearBank, supports instant deposits and withdrawals.
- Coinbase’s UK leadership aims to become the country’s top financial app.
- Regulatory hurdles persist, but the UK remains Coinbase’s largest global market.
The new feature, powered by ClearBank, allows customers to earn daily interest on their balances while maintaining the flexibility of instant access — a combination rarely seen among traditional banks.
A Hybrid of Banking and Fintech
Starting November 11, a select group of UK users will gain access to what Coinbase calls the Coinbase Savings Account. It offers a 3.75% annual equivalent rate (AER) that fluctuates with market conditions and is paid out daily rather than monthly or quarterly. Users can deposit or withdraw instantly with no lockup period or minimum balance requirement, giving it the convenience of a current account and the earning potential of a savings plan.
🇬🇧COINBASE LAUNCHES SAVINGS ACCOUNT IN THE UK
The new Coinbase Savings Account offers a 3.75% variable annual interest rate just like traditional bank savings. pic.twitter.com/dpSQQbUCIT
— Coin Bureau (@coinbureau) November 11, 2025
Perhaps most strikingly, the product carries protection under the Financial Services Compensation Scheme (FSCS), which safeguards up to £85,000 ($112,000) in GBP deposits per customer. That makes it one of the first crypto-affiliated savings offerings in the UK to provide the same guarantee as a high street bank.
Aiming to Become the UK’s “Super App” for Finance
Coinbase executives say this isn’t just a product launch — it’s part of a larger transformation. “We want to give UK users a single platform where crypto, stablecoins, and traditional money work together,” said Mitesh Savjani, Coinbase UK’s Product and Growth Lead.
The company already offers a Coinbase Card, enabling users to spend from crypto or fiat balances at any merchant that accepts Visa. With the new savings feature added, Coinbase is positioning itself as a one-stop financial ecosystem, where customers can hold, earn, and spend seamlessly.
UK CEO Keith Grose said the company aims to become the “number one financial app” in the country, building tools designed for local users rather than global templates. “People want the best of both worlds — the reliability of banks and the innovation of crypto — and that’s what we’re delivering,” Grose said.
Beating Banks, Challenging Fintechs
With its 3.75% variable rate, Coinbase’s new account surpasses most UK bank savings offers, which currently hover below 3%. However, it still trails the most aggressive fintech competitors, some of which have pushed rates past 4%.
Unlike those rivals, Coinbase combines access to over 260 cryptocurrencies, stablecoin integrations, and a regulated fiat savings structure. The move effectively blurs the line between crypto exchange and neobank — a hybrid model that has long been discussed in the industry but rarely executed at this scale.
Regulatory Context and Expansion Plans
The savings launch marks another milestone in Coinbase’s expanding presence across Europe. Earlier this year, it received Virtual Asset Service Provider (VASP) approval from the UK Financial Conduct Authority (FCA), becoming the largest registered crypto exchange in the country.
The UK remains a strategic market for Coinbase, which plans to gradually extend access to the new savings accounts to all eligible users over the coming weeks. Executives view the country as a testing ground for products that could later roll out to the EU and beyond.
Still, the company’s path hasn’t been without friction. In 2024, the FCA fined Coinbase UK £4.5 million for compliance failures related to high-risk customers, and just last week, the Central Bank of Ireland levied a €24.7 million ($26.6 million) fine over anti-money laundering and counter-terrorist financing lapses between 2021 and 2025.
Despite these challenges, Coinbase insists that its regulatory standing has never been stronger and that it remains committed to setting a high standard for compliant crypto-fintech integration.
A Glimpse of the Future of Banking
The Coinbase Savings Account represents more than another fintech offering — it’s a glimpse into how digital finance could evolve in the UK. By merging the instant access of fintech, the security of banking, and the flexibility of crypto, Coinbase is building a bridge between two financial worlds that have long operated apart.
If the rollout proves successful, the product could accelerate a broader trend: the rise of crypto-native companies becoming the next generation of banks.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.