Webull's Crypto Push in Australia Aims to Bridge Global Trading Gaps

Webull Securities Australia has launched cryptocurrency trading services, providing local investors access to 240 cryptocurrencies. This move follows the firm’s recent reintegration of crypto trading into its primary U.S. platform and marks a significant step in its global expansion strategy. The Australian launch is being supported by a partnership with Coinbase Prime, which supplies trading infrastructure, custody services, and real-time market data [2].

The Australian service is positioned as a low-cost option with a 30 basis points spread, appealing to a variety of account structures including individual accounts, Self-Managed Super Funds, trusts, and company structures [2]. Rob Talevski, CEO of Webull Securities Australia, emphasized the importance of the launch, stating it reflects the company’s commitment to providing Australian investors with the freedom to trade what they want, when they want [2].

Webull’s reentry into the U.S. crypto market in July 2024 was driven by a more favorable regulatory environment and a consolidation of its crypto operations under the parent company, which had previously required U.S. customers to use a separate Webull Pay application [2]. The company reintegrated over 50 cryptocurrencies, including Bitcoin, Ethereum, and Solana, into its main U.S. app. Anthony Denier, Webull’s U.S. CEO and Group President, highlighted that the consolidation was a response to customer feedback about the inconvenience of managing multiple apps [2].

Australia’s decision to expand its crypto trading capabilities comes amid broader industry concerns about the nation lagging in global digital asset developments. The local crypto industry has urged the newly reelected Labor government to prioritize digital asset legislation to avoid further delays [2]. Webull’s move is expected to contribute to the discussion by offering a competitive and user-friendly trading platform that aligns with international trends [2].

Looking ahead, Webull has announced plans to expand its digital asset trading services to additional markets, with Brazil already serving as a successful testing ground for integrated crypto trading [2]. The company has not specified the next regions to gain access but has indicated a phased rollout strategy. Webull, which operates in 14 global markets and serves over 24 million registered users, also partners with Coinbase in other capacities, including the provision of Bitcoin and Ethereum futures to U.S. retail investors [2].

The launch of Webull’s Australian crypto services underscores the firm’s strategic focus on global expansion and regulatory adaptability. By leveraging its partnership with Coinbase and responding to customer demands, Webull aims to position itself as a leading platform for cryptocurrency trading in Australia and beyond [2].

Source: [1] Crypto Trading Made Simple (https://www.webull.com/trading-investing/crypto) [2] Webull Launches Australian Crypto Services After US Reboot (https://cointelegraph.com/news/webull-australia-crypto-services-united-states-reboot)