The lending launch follows several other moves in the UK. Since gaining FCA registration in February 2025, the company has widened its product lineup for British customers. It rolled out savings accounts in November 2025. Then, in April 2026, it expanded decentralized exchange trading access in the UK before adding crypto-backed borrowing in the same month.
That expansion comes after major failures in crypto lending. The post compares the use case with what Celsius once promised but later failed to deliver.
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The competitive field in the UK has also stayed thin since Celsius collapsed and Nexo withdrew. Against that backdrop, Coinbase now offers a regulated, exchange-native borrowing option.
Even so, the product still carries terms that users must weigh carefully. Variable rates, liquidation risk, and collateral lock-up remain part of the borrowing equation.
For, the service changes the immediate question. The issue now is not whether a compliant borrowing option exists, but whether the structure fits a user’s risk profile.