PANews reported on November 11th that, according to The Block, Coinbase will launch a Clearbank-backed savings account for select UK users starting November 11th. This account allows eligible UK users to earn interest daily on their pound sterling savings balances at an annualized rate of 3.75% (AER), supports instant deposits and withdrawals, and has no minimum balance or lock-up period restrictions. The account is protected through the Financial Services Compensation Scheme (FSCS), which provides up to £85,000 (approximately US$112,000) in compensation should the service provider go bankrupt, consistent with traditional UK banks. Notably, its 3.75% interest rate is higher than most mainstream banks but lower than some top fintech savings rates. Coinbase plans to gradually roll out the account to all UK users in the coming weeks. The UK is Coinbase's largest international market and a key to its global expansion; this launch of the savings account follows its FCA registration as a virtual asset service provider in February of this year.