The Webull Canada crypto launch gives Canadian clients access to digital asset trading backed by Coinbase’s Crypto-as-a-Service platform, extending a model the brokerage has already deployed in Brazil and Australia. Coinbase handles custody, execution and trading infrastructure; Webull provides the front-end platform and the regulated Canadian entity.
Why Webull stepped away from crypto and how it came back
Webull exited digital assets in July 2023, but the mechanics of that exit are worth understanding. The company spun off Webull Pay LLC and its associated digital assets businesses by transferring them into a newly created Cayman Islands entity, Webull Pay Inc., which was then distributed to existing shareholders in proportion to their holdings. The full structure of that separation is set out in a post-effective amendment filed with the Securities and Exchange Commission (SEC).
The effect was to place the crypto business entirely outside Webull Corporation. Rebuilding started in 2025, this time by outsourcing the infrastructure rather than owning it.
In Brazil, Coinbase handles settlement, execution and custody. In Australia, Coinbase Prime supplies trading infrastructure, custody and market data. Canada now follows the same blueprint. Webull now operates in 14 markets across North America, Asia Pacific, Europe, Africa and Latin America, serving more than 26 million registered users globally, according to a separate SEC filing.
The Webull Canada crypto launch: what the regulatory structure means for clients
Webull Canada Crypto Limited was admitted as a member of the Canadian Investment Regulatory Organisation (CIRO) in June, and also received authorisation from the Canadian Securities Administrators (CSA). The CSA’s public list already includes Coinbase Canada Inc. and Payward Canada Inc., the operator of Kraken, so Webull is entering a market where several platforms are operating under Canadian registration or exemptive-relief arrangements.
The CSA requires registered crypto platforms to hold client assets with an appropriate custodian, keep those assets segregated from the platform’s proprietary business, and refrain from offering margin or leverage to any Canadian client, as set out on the CSA’s crypto regulation page. Coinbase’s custody role fits directly into that requirement.
There is one protection gap that clients should register clearly. Webull Securities (Canada) Limited and Webull Canada Crypto Limited are separate entities under common ownership, and CIRO and the Canadian Investor Protection Fund (CIPF) regulate both. The CIPF covers clients of regulated investment dealers if a firm becomes insolvent. However, Webull states that CIPF does not cover crypto assets. That means the insolvency protection familiar to stock and ETF holders does not extend to digital asset holdings on the platform.
On the trading side, Webull Canada’s pricing page shows stock and ETF trading at zero commission with no account minimums. The platform also supports Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs), the two main tax-sheltered wrappers available to Canadian retail investors.
Canadian crypto demand is growing, but so is the competition
The market Webull is entering has expanded considerably. A recent survey by the Ontario Securities Commission found that 25% of respondents reported holding some cryptocurrency, up from 10% in 2023. TD Securities data showed Canadian crypto exchange-traded funds (ETFs, meaning funds that trade on a stock exchange and track an underlying asset) attracted C$332 million in net inflows during the first half of 2025, led by Solana and XRP products.
That growth has drawn in multiple regulated operators. Webull’s advantage, if it has one, is the combination of a zero-commission stock and ETF platform alongside crypto access under one app, with registered tax-sheltered accounts already in place.
For investors watching the listed entity, Webull Corporation trades on Nasdaq under the ticker BULL. The Canadian crypto expansion is one part of a broader international build-out using Coinbase’s infrastructure rather than proprietary crypto technology, which keeps capital requirements lower but also means Webull’s crypto offering is only as resilient as its infrastructure partner.
The immediate test is whether Webull can attract Canadian users away from established local operators. CIRO membership and CSA authorisation are the baseline; the CIPF gap on crypto assets is the caveat every prospective client should weigh before moving digital assets onto the platform.
