Coinbase is helping Webull to expand regulated crypto in a new market – Canada by offering Webull 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 be able to gain 24/7 access to Bitcoin, Ethereum, Solana, XRP and other digital assets within Webull’s existing apps – stocks, ETFs, options, TFSAs and RRSPs.
Scaling the Coinbase
Crypto-as-a-Service (CryptoaaS) business model Webull, with a user base of over 25 million worldwide, in 2025 shifted its U. S. crypto operations from Bakkt to Coinbase, aiming for even tighter spreads and deeper liquidity.
The Canada rollout is just one of the international expansions after the U. S., Brazil, and Australia market openings.
Coinbase will offer institutional-level subcustody through Coinbase Custody Trust Company, trade execution, trade finance without pre-funding, and systems that fulfill CIRO’sSOC2 Type2& insurance coverage requirements.
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Regulatory Landscape and Industry Role
Webull Canada Crypto was given the green light as CIRO Dealer Member on June 30 2026 but had to take comfort by having a dedicated trust company account plus having custody coverage. Canada, for one, has been quite hard pushing platforms toward dealing with client assets through segregated account and making disclosures more detailed.
Source: Bloomberg
For the industry, this model shows how brokerages can get into crypto without developing their own infrastructure, competing with CIRO-registered rivals while using Coinbase rails which are also trusted by asset managers and institutions.
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The Roadmap
Webull will have beta testers before it officially starts accepting clients with a preselected list of assets. The excahnge mentioned that the demand for compliant infrastructure is growing.
Source: Finance Magnates
The next goals are custody transparency, USDC and staking integration, and the question is whether advanced trading tools can turn promotional signups into a sustained retail crypto activity in Canada.
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