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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.
Webull Canada to Use Coinbase Crypto-as-a-Service
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. Michael Constantino, CEO of Webull Canada, said Canadian clients are seeking access to more asset classes, including digital assets. The partnership provides the infrastructure needed to deliver this offering with the scale and reliability clients expect.
Canadian Crypto Ownership Reaches 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%. 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 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 offering order-execution-only services.
Crypto Assets Do Not Receive CIPF Protection
While Webull Securities 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, 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 had already announced plans to introduce crypto trading after receiving regulatory approval, with beta access beginning with selected clients before reaching more users.
Partnership Already Active in Three Markets
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. Webull Corporation trades on Nasdaq under the ticker BULL and operates licensed brokerage businesses across 16 markets, serving 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.
Coinbase Expands Beyond Crypto Infrastructure
Outside its work with Webull, Coinbase has continued adding products combining crypto infrastructure with conventional financial markets. Earlier in August, the company launched nearly 4,000 U.S. stocks for eligible UK customers, allowing 24-hour trading funded through pounds or USDC. Coinbase has also moved into stock-linked derivatives through Deribit, with the derivatives exchange planning to offer perpetual contracts tied to companies such as Strategy and Robinhood. On Aug. 24, Coinbase launched four stock tokens on Base, extending its tokenized equities offerings. The Webull Canada expansion gives Coinbase another regulated channel for its infrastructure while providing Webull customers with crypto trading capabilities integrated into their existing investment platform.
