Coinbase is helping Webull expand into regulated crypto in a new market — Canada — by providing its Crypto-as-a-Service (CryptoaaS) platform for the launch of Webull Canada's crypto trading platform, which was recently certified.

Announced on August 31, the partnership positions Coinbase as Webull Pay's main provider for custody, trading, and liquidity as Webull Canada Crypto launches under the Canadian Investment Regulatory Organization (CIRO). Canadian traders will gain 24/7 access to Bitcoin, Ethereum, Solana, XRP and other digital assets within Webull's existing apps — stocks, ETFs, options, TFSAs and RRSPs. The move comes as crypto custody and regulatory compliance have become key competitive factors for institutional digital asset services, with providers racing to expand their regulated infrastructure offerings across jurisdictions.

Scaling the Coinbase Crypto-as-a-Service Business Model

Webull, with a user base of over 25 million worldwide, shifted its U.S. crypto operations from Bakkt to Coinbase in 2025, aiming for tighter spreads and deeper liquidity.

📢 𝗝𝗨𝗦𝗧 𝗜𝗡: Coinbase and Webull Expand Crypto Infrastructure Partnership to Canada – $COIN $BULL 👉 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀: ➤ 𝗖𝗼𝗶𝗻𝗯𝗮𝘀𝗲 and 𝗪𝗲𝗯𝘂𝗹𝗹 expand their crypto partnership into Canada. ➤ Coinbase will provide 𝗹𝗶𝗾𝘂𝗶𝗱𝗶𝘁𝘆 and… — Hardik Shah (@AIStockSavvy) August 31, 2026

The Canada rollout is one of several international expansions, following market openings in the U.S., Brazil, and Australia.

Coinbase will offer institutional-level subcustody through Coinbase Custody Trust Company, trade execution, trade finance without pre-funding, and systems that fulfill CIRO's SOC2 Type 2 and insurance coverage requirements.

Regulatory Landscape and Industry Role

Webull Canada Crypto was given the green light as a CIRO Dealer Member on June 30, 2026, but had to take comfort in having a dedicated trust company account plus custody coverage. Canada has been pushing platforms toward handling client assets through segregated accounts and making disclosures more detailed — a framework that has shaped how international crypto firms structure their Canadian market entries.

Source: Bloomberg

For the industry, this model shows how brokerages can enter crypto without building their own infrastructure, competing with CIRO-registered rivals while using Coinbase rails that are also trusted by asset managers and institutions. It also reflects a broader trend of crypto infrastructure providers monetizing their regulatory licenses and technology through business-to-business services, diversifying revenue beyond retail exchange fees.

The Roadmap

Webull will run beta testers before it officially begins accepting clients with a preselected list of assets. The exchange noted that demand for compliant infrastructure is growing.

Source: Finance Magnates

The next goals are custody transparency, USDC and staking integration, and the open question of whether advanced trading tools can turn promotional signups into sustained retail crypto activity in Canada.