Coinbase has expanded its Webull infrastructure partnership into Canada, adding a fourth market to an agreement that already supports crypto services in the United States, Brazil and Australia.
Summary
- Webull Canada will use Coinbase for crypto trading, liquidity, and institutional custody.
- 25% of Canadians own crypto assets or crypto funds, according to an OSC survey.
- Webull Canada Crypto Limited operates as a CIRO-regulated investment dealer.
- Crypto assets held through Webull Canada will not receive CIPF protection.
Coinbase will supply Webull Canada’s crypto infrastructure
Coinbase said in an announcement that Webull Canada will use its Crypto-as-a-Service platform to support digital asset trading and custody. The arrangement gives Webull access to Coinbase’s liquidity and infrastructure while allowing customers to trade without leaving the Webull platform.
Rather than building its own trading and custody system, Webull will connect its Canadian service to technology already used in three other countries. Coinbase will handle the infrastructure behind the offering, while Webull will control the customer-facing investment experience.
Michael Constantino, CEO of Webull Canada, said Canadian clients are seeking access to more asset classes, including digital assets. In his view, Coinbase can provide the capacity and reliability needed to support the service.
“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.”
Webull Canada had already announced plans to introduce crypto trading after receiving regulatory approval. In a June statement, the company said the service would support 24-hour trading in assets including Bitcoin, Ethereum, Solana, XRP, Cardano, and Litecoin.
Beta access was expected to begin with selected clients before reaching more users, according to the June announcement. Webull said customers would be able to fund accounts, monitor portfolios, access reports, and trade digital assets within its existing platform.
Canadian crypto ownership has reached 25%
Demand data cited by Coinbase came from the Ontario Securities Commission’s 2025 crypto asset survey, which found that one in four Canadians owned crypto assets or crypto funds. The 25% national ownership rate was up from 10% in 2023.
Among respondents identified as investors, the ownership rate reached 39%, according to the OSC. About 30% of Canadians had owned crypto at some point, while 74% of current owners held cryptocurrencies directly through an exchange or another platform.
The findings provide the demand backdrop for Webull’s Canadian rollout, although the regulator also identified gaps in investor knowledge. The OSC reported that many owners continued to misunderstand the protections attached to crypto accounts and the risks associated with digital assets.
Webull Canada Crypto Limited is regulated by the Canadian Investment Regulatory Organization as an investment dealer. The company offers order-execution-only services, meaning customers make their own investment decisions without receiving portfolio recommendations from the platform.
While Webull Securities (Canada) Limited belongs to the Canadian Investor Protection Fund, Webull’s disclosures state that crypto assets do not qualify for CIPF coverage. Eligible cash held in a crypto trading account may receive protection within applicable limits and under the fund’s coverage policy, but the protection does not extend to cryptocurrencies themselves.
The distinction matters because CIPF generally covers missing property when a member investment dealer becomes insolvent. It does not insure investors against falling crypto prices, trading losses, or the failure of an asset.
Webull extends a partnership already active in the US
Before entering Canada, Coinbase’s infrastructure supported Webull crypto products in the United States, Brazil and Australia. Webull selected the company based on its available assets, liquidity, pricing, custody services, and ability to operate across several markets, according to Coinbase.
The U.S. part of the partnership gives the Canadian expansion a direct connection to American investors. Webull Corporation trades on Nasdaq under the ticker BULL and operates licensed brokerage businesses across 16 markets, according to the company’s June release.
Webull said it serves more than 27 million registered users globally. Its Canadian brokerage already offers Canadian and U.S.-listed shares, exchange-traded funds and options, along with cash, margin, tax-free savings and retirement accounts.
For Coinbase, the agreement supplies infrastructure to another financial platform without requiring Webull clients to trade directly through the Coinbase application. Crypto-as-a-Service products generally allow brokerages and financial technology companies to add digital asset functions while an external provider handles parts of trading, liquidity, and custody.
The Canadian rollout also builds on Webull’s existing local presence. The company entered Canada in January 2024 after obtaining regulatory authorization in November 2023, initially offering access to Canadian and U.S. equities.
Coinbase adds stocks, tokenized assets and EU services
Outside its work with Webull, Coinbase has continued adding products that combine crypto infrastructure with conventional financial markets. Earlier in August, crypto.news reported on its launch of nearly 4,000 U.S. stocks for eligible customers in the United Kingdom.
The UK service allows trading for 24 hours a day on five weekdays, with purchases funded through pounds or USDC. Coinbase also offers fractional shares starting from £1 and zero-commission trades, although its disclosures warn that currency movements can affect purchases made with pounds and that out-of-hours trading carries added risks.
Orders are routed through Coinbase Capital Markets Corporation and executed by Apex, while Apex Clearing holds the U.S. shares, according to the August report. Fractional shares remain unavailable outside regular U.S. trading hours even though supported whole-share orders can be placed during extended sessions.
Coinbase has also moved into stock-linked derivatives through Deribit. The derivatives exchange plans to offer perpetual contracts tied to companies such as Strategy and Robinhood, placing equity-linked products alongside its existing crypto derivatives business.
Onchain equities form another part of the company’s product expansion. On Aug. 24, Coinbase launched four stock tokens on Base, providing eligible non-U.S. users with exposure to Nvidia, Meta, Apple and Alphabet shares.
Each product initially represents a beneficial interest in one underlying share held through a segregated custody account. Coinbase Onchain SPV Ltd., an Abu Dhabi Global Market company, issues the securities, while U.S.-registered Alpaca Securities acts as the broker and custodian.
Chainlink later added Data Feeds for NVDAc, METAc, AAPLc and GOOGLc, allowing supported Base applications to calculate collateral values and monitor liquidations. Each lending protocol remains responsible for setting its borrowing limits and risk controls.
Coinbase has limited the Base stock tokens to eligible non-U.S. investors under Regulation S. The securities have not been registered under the U.S. Securities Act and are unavailable to U.S. persons, despite representing economic interests in shares of companies listed in the United States.
In Europe, Coinbase opened its Luxembourg hub under the Markets in Crypto-Assets framework in June. Its authorization from Luxembourg’s Commission de Surveillance du Secteur Financier permits the company to provide regulated crypto services across all 27 European Union member states through MiCA passporting rules.
