Webull Expands Crypto Trading to Canada Through Coinbase Partnership

Webull is expanding its cryptocurrency trading services into Canada, teaming up with Coinbase to provide the technology and infrastructure behind the offering.

Under the partnership, Webull Canada will use Coinbase’s Crypto-as-a-Service platform, with Coinbase providing core services including crypto trading, liquidity and institutional-grade custody. This allows Canadian customers to access digital assets through Webull’s platform without having to use a separate crypto exchange.

While Webull provides the customer-facing trading experience, Coinbase will handle much of the infrastructure supporting the crypto service.

The partnership builds on an existing relationship between the two companies, which already supports Webull’s crypto operations in the United States, Brazil and Australia.

Webull Canada CEO Michael Constantino said crypto has become an increasingly important asset class for Canadian investors and that the Coinbase partnership gives the company the infrastructure needed to expand its offering.

The expansion comes as cryptocurrency ownership in Canada continues to increase. A recent survey cited by Coinbase found that 25% of Canadians reported owning crypto assets, up from 10% in 2023.

Webull Canada Crypto Limited is regulated by the Canadian Investment Regulatory Organization (CIRO). However, the company notes that crypto assets are not covered by the Canadian Investor Protection Fund (CIPF). The move gives Canadian investors another option for accessing crypto alongside traditional investments such as stocks and ETFs.

Webull’s Canadian expansion is another sign that traditional investment platforms are increasingly bringing crypto directly into their mainstream financial services.