Coinbase Launches Savings Accounts in UK, Offering 3.75% Interest and FSCS Protection

Coinbase has launched savings accounts for UK customers, marking a significant step into mainstream financial services for the cryptocurrency exchange. The account offers an annual equivalent rate (AER) of 3.75% interest, along with protection under the Financial Services Compensation Scheme (FSCS), ensuring customer deposits are secure if the company fails. This makes Coinbase the first crypto exchange to offer a regulated savings product in the UK. Powered by ClearBank, the account is initially available to selected users on November 11 before a phased rollout to all eligible customers.