Eligible users can earn interest on GBP balances held with ClearBank, which provides FSCS coverage up to £85,000 per person, according to Coinbase’s help center.
Key Takeaways:
- Rollout begins November 11, 2025, for select verified UK residents, with expansion planned over coming weeks, The Block reported.
- Users must be UK tax residents aged 18 or older with verified Coinbase accounts and non-US persons to qualify, Coinbase stated in its help center.
- The 3.75% variable rate sits below the Bank of England’s 4% base rate maintained on November 5, 2025, and top UK easy access rates of 4.55%, according to official minutes and MoneySavingExpert data.
Nov. 11 (Crypto-News.Net) – Coinbase launched instant access savings accounts for GBP in the United Kingdom on Tuesday, offering a 3.75% annual equivalent rate on eligible balances, The Block reported.
The accounts allow users to earn variable interest paid daily on GBP holdings, according to the company’s help center. Coinbase stated that balances are held with ClearBank, a regulated UK bank, which qualifies deposits for protection by the Financial Services Compensation Scheme up to £85,000 per eligible person. This partnership aligns with recent Coinbase partnerships in the ecosystem.
The rollout starts for select verified users on November 11, 2025, and will expand to all eligible UK residents over the coming weeks, The Block said. Eligibility requires users to be UK tax residents aged 18 or older with verified Coinbase accounts and non-US persons, Coinbase noted in its help center. Interest accrues daily and is paid out when it reaches £0.01 or more, the company added. Such features support broader fiat-crypto services for user onboarding.
Coinbase’s Position in UK Market
Coinbase has pursued regulatory approvals in the United Kingdom over recent months to offer fiat services alongside cryptocurrency trading. The savings accounts represent an extension of these efforts, with GBP balances maintained separately from crypto assets, according to Coinbase.
The company received support from recent Financial Conduct Authority decisions allowing greater retail access to certain crypto products, as detailed in Coinbase’s UK growth. Coinbase partnered with ClearBank for account custody to ensure compliance with UK deposit rules, the help center states. ClearBank, authorized by the Prudential Regulation Authority, holds the funds and applies standard banking safeguards, Coinbase said. This move fits into emerging crypto neobanks focused on secure payments.
UK Crypto-Fiat Trends
UK-based platforms have increasingly combined cryptocurrency services with traditional banking features. For example, Wirex outlined plans for fiat-crypto integrations compliant with European regulations, as reported in a recent analysis of crypto-banking hybrids.
The Coinbase rate of 3.75% AER applies to variable easy access savings and tracks below the Bank of England’s base rate of 4%, which the Monetary Policy Committee maintained by a 5-4 vote on November 5, 2025, according to the central bank’s minutes. Top easy access rates from other UK providers reached 4.55% as of November 10, 2025, MoneySavingExpert data showed. Users must notify Coinbase of any changes in tax residency to maintain eligibility, the company stated. Expansion to broader user groups will occur in phases, with no minimum balance required, Coinbase added. The development reflects growing crypto savings products amid UK challenger banks projected to expand 26.3% annually through 2033.
