Quick Breakdown
- Webull Australia adds crypto trading with 240 tokens via Coinbase Prime partnership
- Relaunch in the U.S. comes after a two-year hiatus under tougher regulations
- Firm eyes further international expansion, including Brazil and beyond
Webull Brings Crypto to Australian Investors
Trading platform Webull has rolled out cryptocurrency services in Australia, days after reviving its digital asset offering in the United States. The Australian branch announced on Wednesday that investors can now access 240 cryptocurrencies, made possible through a partnership with Coinbase Prime. Rob Talevski, CEO of Webull Securities Australia, said the move aligns with the company’s broader strategy.
“The addition of cryptocurrencies and digital tokens to the Webull platform represents the next phase of our ongoing mission to provide Australian investors with the freedom to trade what they want,”
he stated.
U.S. Comeback After Regulatory Exit
Webull’s Australian expansion closely follows its crypto comeback in the U.S. on Monday. The company withdrew from the American market in 2023 during a stricter policy era under the Biden administration, a period when it was also pursuing a public listing.
Speaking to Bloomberg, Webull CEO Anthony Denier acknowledged that suspending crypto services went against customer expectations. “It’s a natural sort of return to what our clients expect,” Denier said.
Looking Beyond: Global Market Expansion
Webull signaled that more markets are on its radar after relaunching in the U.S. and Australia. Earlier this year, the firm introduced crypto trading in Brazil, marking the start of its broader international push.
Despite the momentum, Webull’s stock (NASDAQ: BULL) showed muted performance, sliding 2.67% on Monday before recovering slightly by 0.3% on Tuesday to close at $15 according to GoogleFinance.
Local Industry Push for Regulation
Webull’s entry comes as Australia’s crypto sector urges the newly reelected Labor government to fast-track digital asset legislation. Market players warn that Australia risks falling behind global counterparts if regulation is delayed further.
“Labor’s re-election provides policy continuity and the stable governance necessary for implementing long-term economic reform. For the digital asset sector, it brings with it a legislative mandate and a timeline,”
BTC Markets chief executive Caroline Bowler said.
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