Webull Reenters Canada With Coinbase Crypto Infrastructure

Webull is returning to the Canadian cryptocurrency market with a model that puts much of the technical machinery in the hands of Coinbase, allowing the brokerage to offer digital asset trading without building its own large scale infrastructure from scratch.

The arrangement places Coinbase behind several of the functions that customers may not see when using the Webull platform. Coinbase will provide liquidity, order execution and cryptocurrency custody, while Webull Canada remains responsible for the customer facing platform and related services.

According to Canadian regulatory information cited in the report, Webull Canada Crypto Limited uses Coinbase Custody Trust Company for custody arrangements. The custody provider is subject to requirements covering areas such as capital, audited financial statements and security controls.

The Canadian expansion also represents a significant change in Webulls cryptocurrency strategy. The company previously stepped back from the sector. In July 2023, Webull Pay LLC was separated from the wider group and cryptocurrency trading through the Webull application was discontinued.

The business was subsequently rebuilt as regulatory conditions evolved. Webull Pay returned to the group in September 2025, setting the stage for the latest international expansion.

Canada now becomes another market where Webull is relying on Coinbase infrastructure. The companies already work together in the United States, Brazil and Australia, although the precise services supplied by Coinbase differ between markets.

Webull Canada Crypto Limited became subject to Canadian investment regulation in June 2026 after receiving approval as a cryptocurrency trading platform. Webull Securities Canada and Webull Canada Crypto are separate legal entities despite having common ownership, a distinction that investors need to understand before assuming that protections applying to one entity automatically extend to the other.

One of the most important warnings concerns investor compensation. Although the relevant Webull entities are members of the Canadian Investor Protection Fund, cryptocurrency holdings themselves are not covered by that protection.

For Malaysian investors watching the development, the lesson is particularly relevant as digital assets continue to attract attention across Southeast Asia. A familiar brokerage name or a regulated platform does not necessarily mean every asset receives the same legal protection. Malaysian users considering cryptocurrency or offshore trading services should identify the exact contracting entity, understand where assets are held and verify which regulator actually supervises the product before committing funds.