Coinbase Signs Crypto Infrastructure Deal With Webull for Canadian Expansion

Coinbase has signed a crypto infrastructure deal with Webull Canada, extending a partnership that already supports digital asset services in the United States, Brazil and Australia through its platform.

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Coinbase to Power Webull Canada Crypto Trading

Webull Canada will use Coinbase’s Crypto-as-a-Service platform for its crypto offering. The service will include crypto trading and institutional grade custody. Through the agreement, Webull gains access to Coinbase’s liquidity and infrastructure while keeping the investment experience within its platform.

Demand for digital assets has also increased in Canada. A recent Ontario Securities Commission survey found that crypto ownership among Canadian investors reached 25%, up from 10% in 2023.

Michael Constantino, CEO of Webull Canada, said crypto has become a larger part of the asset mix sought by Canadian investors. He added that the Coinbase partnership provides the infrastructure Webull needs to offer these services at scale.

“Canadian investors expect access to a growing range of asset classes, and crypto has become an increasingly important part of that mix,” Constantino said. “Our partnership with Coinbase provides the infrastructure needed to deliver this offering with the scale and reliability our clients expect.”

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Webull Expands Existing Coinbase Partnership

The Canadian launch extends an existing relationship between the two companies. Their partnership already supports Webull’s crypto services in the United States, Brazil and Australia.

For the expansion, Webull selected Coinbase based on its supported assets, global reach, infrastructure and pricing. The partnership has helped Webull expand its crypto services across several markets and increase trading volumes on its platform.

Webull Canada Crypto Limited operates as a regulated investment dealer under the Canadian Investment Regulatory Organization. It provides order-execution-only crypto trading and is also a Canadian Investor Protection Fund member. However, CIPF protection does not cover crypto assets.

Beyond the Webull partnership, Coinbase has been expanding its financial services outside conventional crypto trading. Nearly 4,000 U.S. stocks are being introduced for eligible UK customers through 24/5 trading. The service includes fractional shares, zero-commission trades and funding through pounds or USDC.

Coinbase Broadens Tokenized Asset Services

Coinbase is also expanding into tokenized assets and derivatives. Its Deribit derivatives exchange plans to offer perpetual contracts linked to stocks such as Strategy and Robinhood. The planned products form part of Coinbase’s wider real-world asset offering.

Meanwhile, Chainlink provides pricing infrastructure for applications on Base that integrate Coinbase Tokenized Stocks. Its Data Feeds provide market prices for tokenized equities such as NVDAc, METAc, AAPLc and GOOGLc. These feeds allow onchain applications to access continuous pricing data.

Regulatory expansion has continued outside North America as well. Coinbase secured a Markets in Crypto-Assets license in Luxembourg and established its European Union crypto hub there. The license allows the exchange to provide crypto products and services across all 27 EU member states.

For more secure and regulated trading options, retail investors are increasingly looking for the best crypto exchange Canada has to offer as crypto adoption grows.