Coinbase launches a savings account in the UK offering a variable annual return of 3.75%, with instant deposits and withdrawals, no minimum amount or lock-up period, accessible starting from November 11 through a partnership with Clearbank.
Coinbase opens a savings account in the United Kingdom
Coinbase takes a new step in its integration with traditional finance. The American exchange has just announced the launch of savings accounts for its UK users, offering a variable annual yield of 3.75%, with instant deposits and withdrawals, no minimum amount or lock-up period.
From November 11, some UK users will be able to access this new offering, developed in partnership with Clearbank. The company promises a seamless experience, fully integrated into its application, allowing users to manage their savings in British pounds as easily as their cryptocurrencies.
A crypto-friendly savings protected like a bank
What sets this offer apart is that it benefits from the protection of the Financial Services Compensation Scheme (FSCS), the UK scheme that guarantees deposits up to £85,000 (approximately €112,000) in case of provider failure. In other words, the same level of security as in a traditional bank, a first for a crypto platform in the country.
With this product, Coinbase becomes the first crypto exchange to offer a regulated savings account in the UK. A major step for Keith Grose, Coinbase UK’s managing director:
We want to make Coinbase the first financial application in the UK, combining the best of crypto finance and traditional finance.
Coinbase aims to attract disillusioned savers from banks
Coinbase’s offer comes at a time when savings rates offered by major British banks remain low. With 3.75% AER, the exchange positions itself above most traditional institutions, although not reaching the best fintech offers currently available.
But Coinbase is betting on an asset: the simplicity of a unified ecosystem. The user can both spend with the Coinbase Card, invest in over 260 digital assets, or even benefit from passive income in stablecoins or fiat, without leaving the platform. A clear strategy: erasing the boundary between crypto and daily finance.
European expansion under close scrutiny
The UK represents Coinbase’s largest international market, now registered with the Financial Conduct Authority (FCA) since last February as a Virtual Asset Service Provider (VASP). This recognition provides a solid foundation for its European expansion, despite a turbulent regulatory history.
In 2024, Coinbase UK was fined £4.5 million by the FCA for shortcomings related to the management of at-risk clients. And in early November, its European subsidiary was sanctioned by the Central Bank of Ireland, to the tune of $24.7 million, for failures in monitoring transactions between 2021 and 2025.
Despite these setbacks, the company continues to forge its path towards a hybrid model combining crypto, finance, and fintech. By targeting savings, Coinbase is no longer seeking to only attract traders, but to win over traditional savers.
A clear message: the crypto revolution is no longer just about tokens, but also about how we manage our money on a daily basis.
