Top crypto exchange Coinbase has signed a new crypto infrastructure deal with trading platform WeBull to expand the latter’s operations to Canada. Built on Coinbase’s Crypto-as-a-Service platform, Webull Canada will leverage Coinbase’s institutional-grade custody and trading services. Per a press release from both companies, Coinbase will provide core crypto infrastructure, including liquidity access and custody services, for Webull Canada Crypto Limited.
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. As adoption continues to grow across the country, we remain focused on giving investors secure, regulated tools to build their portfolios on their own terms.”
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Webull selected Coinbase to drive this change due to its comprehensive offering of assets, global coverage, flexibility and scale, its position as a trusted and compliant publicly traded company and its competitive pricing. Globally the partnership has allowed Webull to expand its crypto offering across multiple countries, driving higher notional trading volumes on their platform.
Webull (BULL) stock dipped 1.3% and Coinbase Global (COIN) stock fell 0.5% in early Monday trading.