Coinbase Adds Custody to Webull’s Canadian Crypto Rollout

Webull has begun offering cryptocurrency trading in Canada, running the service on Coinbase's Crypto-as-a-Service platform. Under the arrangement, Webull Canada clients gain access to digital asset trading while Coinbase supplies the core infrastructure, including custody and trade execution. Canada becomes the latest market in a partnership that already covers Brazil, the United States and Australia.

The Canadian rollout is part of a wider rebuild of Webull's digital asset business. In regulatory filings, the brokerage said it stopped offering crypto trading through its app in July 2023, after spinning off Webull Pay LLC and its digital assets operations into a separate entity outside the Webull Corporation group. Webull started reconstructing the offering in 2025: in Brazil it adopted a model where Coinbase handles settlement, execution and custody, while in Australia it launched crypto services with Coinbase Prime providing trading infrastructure, custody and market data.

Regulatory footing

Webull Canada Crypto Limited was admitted as a member of the Canadian Investment Regulatory Organisation in June, and also secured authorisation from the Canadian Securities Administrators. The CSA's public register separately lists Coinbase Canada Inc. and Payward Canada Inc., the operator of Kraken, indicating Webull is entering a market where several crypto platforms already hold Canadian registration or exemptive relief.

According to a recent Ontario Securities Commission survey, 25% of respondents said they held some form of crypto, up from 10% in 2023. Data from TD Securities showed Canadian crypto ETFs drew C$332 million in net inflows during the first half of 2025, with Solana- and XRP-linked products leading.

Webull's Canadian disclosures flag a limitation for clients: Webull Securities (Canada) Limited and Webull Canada Crypto Limited are separate entities under common ownership, both regulated by CIRO and the Canadian Investor Protection Fund. Crypto assets, the company states, are not covered by CIPF.