{"id":57992,"date":"2025-11-12T02:47:17","date_gmt":"2025-11-12T02:47:17","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=57992"},"modified":"2025-11-12T02:47:17","modified_gmt":"2025-11-12T02:47:17","slug":"stand-aside-shuttered-high-streets-is-coinbase-the-uks-next-big-bank","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=57992","title":{"rendered":"Stand Aside Shuttered High Streets: Is Coinbase the UK\u2019s Next Big Bank?"},"content":{"rendered":"
\n

Coinbase is taking a clear step toward mainstream finance in the UK.\u00a0 <\/span>The company is introducing a savings account that resembles those typically found at traditional banks, offering a 3.75% AER on cash deposits.<\/span><\/p>\n

The new account was <\/span>announced<\/span><\/a> on November 11 and is being offered first to selected users. It pays daily interest, doesn\u2019t require a minimum balance, and allows instant access to funds.<\/span><\/p>\n

Is Coinbase Now Competing Directly With UK Banks?<\/b><\/h2>\n

It also comes with FSCS protection, providing customers with the same level of safety they would expect from a high-street bank.<\/span><\/p>\n

The product runs through ClearBank, but it sits inside Coinbase\u2019s ecosystem. It provides users with a way to hold and earn interest on pounds without transferring money to another app or bank.\u00a0<\/span><\/p>\n

For Coinbase, it\u2019s a strategic shift. It places the company in direct competition with UK banks and finance apps that market easy-access savings.<\/span><\/p>\n

Funds are held with ClearBank and fall under FSCS protection, covering up to \u00a385,000 per eligible person. Coinbase says this is the first UK savings account offered by a crypto-native exchange.<\/span><\/p>\n

The launch follows Coinbase\u2019s securing of VASP <\/span>registration<\/span><\/a> from the Financial Conduct Authority in February. Since then, the company has described the UK as its biggest market outside the United States.<\/span><\/p>\n

The Bank of England kept the Bank Rate at 4.0% last week. This rate often helps guide variable savings products. FSCS protection remains \u00a385,000, though the Prudential Regulation Authority has suggested raising the cap to \u00a3110,000.<\/span><\/p>\n

DISCOVER:\u00a0Top Solana Meme Coins to Buy in 2025<\/a><\/strong><\/p>\n

How Does Coinbase\u2019s FSCS-Protected Savings Account Work?<\/b><\/h2>\n

Coinbase\u2019s help pages say the savings rate can change, including after Bank of England decisions. Interest accrues daily and is paid once it reaches at least one penny.\u00a0<\/span><\/p>\n

FSCS coverage <\/span>applies<\/span><\/a> across all funds held with ClearBank. <\/span>Coinbase shares <\/span>slipped<\/span><\/a> to about $310.78 on Tuesday as the wider crypto market cooled.<\/span><\/p>\n

\"Stand
(Source: COIN USD, TradingView<\/a>)<\/figcaption><\/figure>\n

Chief executive Brian Armstrong said<\/a> offering \u201ca high-interest and instant-access savings account\u201d inside the Coinbase app is part of its effort to modernize financial services for users in the UK\u00a0<\/span><\/p>\n

ClearBank UK\u2019s chief, Emma Hagan, described the partnership as a means to link traditional money and digital assets, according to comments shared with Finextra and ClearBank.<\/span><\/p>\n

The move places a bank-style, FSCS-protected savings feature inside a crypto platform, narrowing the gap between exchanges and conventional banks.\u00a0<\/span><\/p>\n

It could help Coinbase keep customer deposits on its platform for longer and increase cash balances.<\/span><\/p>\n

The rollout also tests how far regulated banking services can be built into digital-asset firms.\u00a0<\/span><\/p>\n

Industry watchers say Coinbase has tightened its compliance in Britain over the past year, while European supervisors continue to examine anti-money laundering practices across the sector.<\/span><\/p>\n

EXPLORE: How to Buy Bitcoin Anonymously in 2025<\/a><\/strong><\/p>\n

The post Stand Aside Shuttered High Streets: Is Coinbase the UK\u2019s Next Big Bank?<\/a> appeared first on 99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Coinbase is taking a clear step toward mainstream finance in the UK.\u00a0 The company is introducing a savings account that resembles those typically found at traditional banks, offering a 3.75% AER on cash deposits. The new account was announced on November 11 and is being offered first to selected users. It pays daily interest, doesn\u2019t […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-57992","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/57992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57992"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/57992\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}