The account offers a 3.75% AER, instant access, and, crucially, FSCS protection.

The move targets the United Kingdom, Coinbase’s largest international market. It follows the firm securing its VASP (Virtual Asset Service Provider) registration from the Financial Conduct Authority in February 2025, making it the largest UK-registered crypto exchange.

Powered by ClearBank, the new account bypasses common banking frustrations by offering instant deposits and withdrawals with no minimum balance or lock-up periods.

This launch positions Coinbase as a direct competitor to “superapps” like Revolut, which blend traditional financial services with crypto access. Coinbase has adopted a similar strategy, rebranding its Wallet app to “Base” in July to consolidate payments, trading, and social features into a single blockchain-based application.

The strategy appears twofold: challenging traditional finance while simultaneously acquiring new customers for its core crypto business.

Coinbase CEO Brian Armstrong described the launch as “a step on the path to updating the financial system for the UK”. He emphasised that the account “narrows the gap between traditional finance and the crypto economy”, acting as a “bridge for users from the fiat to the crypto economy”.