Webull and Coinbase Team Up for Expanded Crypto Services in Canada
Webull has partnered with Coinbase to expand its crypto trading and custody services in Canada. The partnership gives Webull's Canadian clients access to digital asset trading, while Coinbase provides the core infrastructure, including custody and trading services.
The expansion follows Webull's decision to reintroduce crypto trading after stepping back from digital assets in 2023. Webull's CEO, Michael Constantino, said that 'Canadian investors expect access to a growing range of asset classes, and crypto has become an increasingly important part of that mix.'
The Canadian rollout is tied to Webull Canada Crypto Limited, which is regulated by the Canadian Investment Regulatory Organisation (CIRO) and admitted as a CIRO member in June. However, it's worth noting that CIPF coverage does not apply to crypto assets.
According to an Ontario Securities Commission survey cited by Coinbase, 25% of respondents reported having some crypto, up from 10% in 2023. The partnership uses Coinbase's Crypto-as-a-Service platform to support digital asset trading and custody, while Coinbase handles liquidity and infrastructure.