Coinbase and Webull expand crypto partnership to Canada

Coinbase and Webull are extending their crypto infrastructure partnership to Canada, bringing institutional-grade custody and trading services to Canadian investors through Webull's platform, according to a statement from the companies.

The expansion builds on Coinbase's Crypto-as-a-Service platform, which already powers Webull's crypto offerings in the United States, Brazil, and Australia. Under the arrangement, Coinbase will provide core crypto infrastructure, including liquidity access and custody services, for Webull Canada Crypto Limited, which is regulated by the Canadian Investment Regulatory Organization (CIRO) and is a member of the Canadian Investor Protection Fund (CIPF).

Michael Constantino, CEO of Webull Canada, said in the statement: "Our partnership with Coinbase provides the infrastructure needed to deliver this offering with the scale and reliability our clients expect."

A recent survey by the Ontario Securities Commission found that crypto asset ownership in Canada has risen to 25% of the population, up from 10% in 2023.

Coinbase Canada, Inc. is registered as a Restricted Dealer across all Canadian provinces and territories. Webull Canada offers order execution only crypto trading, and crypto assets held through the platform are not covered by CIPF protection.

Coinbase (NASDAQ: COIN) is a publicly traded company. Webull is a global brokerage platform.

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