Coinbase launches savings account in the UK

Coinbase has launched its Coinbase Savings Account in the United Kingdom for select users, The Block reported. The product, based on infrastructure from payments firm ClearBank, allows eligible users to earn a variable annual interest rate of 3.75%, paid out daily. The account features instant deposits and withdrawals with no minimum deposit or lock-up period. Additionally, deposits are protected up to £85,000 under the UK's Financial Services Compensation Scheme (FSCS).