Coinbase Partners With Webull in Canada Amid Growing Crypto Demand
Coinbase has expanded its partnership with Webull to Canada, adding the country to a list that already includes the United States, Brazil, and Australia. Webull Canada will use Coinbase's Crypto-as-a-Service platform for digital asset trading and custody.
The agreement gives Webull access to Coinbase's liquidity and infrastructure, allowing customers to trade without leaving the Webull platform. Webull's CEO, Michael Constantino, said Canadian clients are seeking access to more asset classes, including digital assets, and that Coinbase can provide the capacity and reliability needed to support the service.
The partnership follows a regulatory approval for Webull Canada to offer crypto trading services in the country. The company had announced plans to introduce crypto trading after receiving the necessary approvals in June, with beta access expected to begin with selected clients before reaching more users.
Crypto ownership has reached 25% in Canada, according to a survey by the Ontario Securities Commission. However, the regulator also noted that many owners continue to misunderstand the protections attached to crypto accounts and the risks associated with digital assets.