Webull (NASDAQ:BULL) has enlisted Coinbase’s (NASDAQ:COIN) crypto-as-a-service platform to extend its digital asset abilities in Canada.
Webull, based in St. Petersburg, Florida, operates in Canada through Webull Securities (Canada) Limited (regulated by CIRO and a CIPF member) and primarily offers access to stocks and ETFs. The collaboration with Coinbase should help expand its user base. Webull launched brokerage services in Canada in January 2024.
Michael Constantino, CEO of Webull Canada, said investors expect a range of asset classes and that crypto services have become the norm.
“Our partnership with Coinbase provides the infrastructure needed to deliver this offering with the scale and reliability our clients expect. As adoption continues to grow across the country, we remain focused on giving investors secure, regulated tools to build their portfolios on their own terms.”
Coinbase points to a survey by the Ontario Securities Commission that has found that ownership of crypto assets has increased to 25%, up from 10% in 2023.
Shares of Coinbase have moved higher today, supported by the partnership news. Webull shares are relatively unchanged.
