Webull has rolled out cryptocurrency trading in Australia, following its recent return to the digital asset market in the United States.
The Australian branch of the trading app allows users to access 240 different crypto assets, according to a press release dated August 27.
This launch is backed by a partnership with Coinbase
$2.57B
Prime, which supports the service with trade execution and custody infrastructure.
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Rob Talevski, CEO of Webull Securities Australia, described the update as part of the company’s goal to give local investors more options. He explained that adding digital assets helps users manage different types of investments all in one place.
The decision to expand in Australia comes two days after Webull restored its crypto services in the US, a market it had left in 2023. At that time, the company was preparing to go public and decided to pause crypto offerings in response to a less favorable regulatory climate under the Biden administration.
CEO Anthony Denier told Bloomberg on August 25 that users had requested the return of crypto trading, and the company is simply responding to what customers expect.
The firm also plans to expand into other parts of the world. In a separate announcement on August 25, Webull said that additional markets would be added soon. Brazil has become one of the first new regions to receive access to crypto trading through the platform.
On August 12, Coinbase relaunched its Stablecoin Bootstrap Fund to grow USDC
