Key facts
- Coinbase will provide its crypto infrastructure and custody services to Webull Canada.
- The partnership allows Webull Canada to offer crypto trading to its users.
- This deal expands an existing collaboration between Coinbase and Webull into Canada.
- Canadian crypto ownership has risen to 25% among investors.
- Coinbase has also been expanding its services into tokenized assets and European markets.
Coinbase has entered into a crypto infrastructure agreement with Webull Canada, marking an extension of their existing partnership. This deal will see Webull Canada leverage Coinbase's Crypto-as-a-Service platform to offer cryptocurrency trading and institutional-grade custody to its users in Canada.
The partnership allows Webull Canada to integrate crypto services directly into its existing platform, providing access to Coinbase's liquidity and infrastructure. This move comes as demand for digital assets grows in Canada, with a recent survey indicating that 25% of Canadian investors now own cryptocurrency, up from 10% in 2023.
Michael Constantino, CEO of Webull Canada, stated that the partnership with Coinbase is crucial for delivering crypto services at scale, meeting the expectations of Canadian investors for access to a wider range of asset classes. The collaboration has already facilitated Webull's crypto service expansion in the United States, Brazil, and Australia.
Webull Canada Crypto Limited operates as a regulated investment dealer. Beyond this partnership, Coinbase has been broadening its financial services, including introducing fractional share trading for UK customers and expanding into tokenized assets and derivatives. The company has also secured a MiCA license in Luxembourg, establishing an EU crypto hub.