Coinbase Global and Webull have extended their collaboration to Canada, enabling the online trading platform to provide digital asset services to its Canadian customers. This move marks the fourth market where the two firms have integrated their technologies, following previous launches in the United States, Brazil, and Australia.
Under the arrangement, Webull Canada will utilize Coinbase's Crypto-as-a-Service platform to support trading and custody operations. The integration grants Webull access to Coinbase's existing liquidity and infrastructure, allowing Canadian clients to trade cryptocurrencies such as Bitcoin directly within the Webull application. Rather than developing a proprietary trading and custody system, Webull is connecting its Canadian services to the technology stack already deployed in the other three partner markets.
Coinbase stated that it will manage the backend infrastructure for the offering, while Webull retains control over the customer-facing investment experience. This division of labor allows Webull to expand its product offerings without significant capital expenditure on core blockchain technology. Michael Constantino, CEO of Webull Canada, noted that Canadian clients are increasingly seeking access to diverse asset classes, with cryptocurrencies becoming a significant part of their investment mix.
Constantino told the company that investors in Canada are looking for a wider variety of investment options, where digital assets now hold a larger share of their portfolios.
Webull Canada now offers 24-hour trading in Bitcoin, Ethereum, Solana, and other major cryptocurrencies. The platform previously entered the Canadian market in 2024 with an initial focus on Canadian and U.S. stock trading. Webull claims to serve more than 27 million registered users globally and also offers exchange-traded funds and options contracts.
Despite the expansion, both companies face headwinds in the public markets. Webull stock has declined 29% over the last 12 months, currently trading at $9.56 U.S. per share. Coinbase shares have fallen 38% in the past year to trade at $188.72 U.S. per share.