Coinbase and Webull announced an infrastructure partnership on August 31 that extends Webull's crypto services in Canada through Coinbase's Crypto-as-a-Service platform. The arrangement follows Webull's June 30 launch of crypto trading in the Canadian market.
Webull began offering cryptocurrency trading in Canada after obtaining regulatory approval, and the Coinbase partnership now supplies the underlying infrastructure for those operations. Crypto-as-a-Service platforms allow brokers and trading firms to embed crypto capabilities without building their own custody, settlement, or exchange technology from the ground up.
Webull is a retail brokerage founded in 2017 that offers commission-free stock and options trading. The platform operates in the United States and expanded into Canada earlier this year. Coinbase provides institutional-grade crypto infrastructure to a range of partners through its Crypto-as-a-Service offering, which handles on-chain transactions, custody, and trading rails.
The Canadian crypto market has seen steady regulatory clarification over the past two years. Canada's securities regulators approved several spot Bitcoin and Ethereum exchange-traded products in 2024 and 2025, and provincial authorities have begun issuing licenses for crypto trading platforms. Webull's entry into the Canadian market places it alongside established brokers seeking to capture domestic retail demand for digital assets.
Coinbase has expanded its infrastructure partnerships steadily since launching Crypto-as-a-Service in 2021. The platform now powers crypto trading for multiple consumer brokers and financial institutions seeking to add digital asset capabilities without operating their own exchange or custody infrastructure.
Webull operates across two countries while Coinbase already serves institutional clients in over 100 countries. The Webull partnership represents one expansion among multiple Coinbase infrastructure agreements but marks a concrete entry point for Coinbase into the Canadian retail brokerage market through an intermediary.
The document to watch is whether Webull files a formal regulatory notice with Canadian securities commissions disclosing Coinbase as its crypto trading infrastructure provider, which would establish whether the partnership requires formal disclosure to regulators.
