Webull Expands Crypto Trading to Australia Day After US Relaunch
Webull Securities Australia launched cryptocurrency trading for local users today (Wednesday), expanding access to the most popular digital assets just one day after the brokerage reintroduced crypto to its main US platform.
Webull Extends Crypto Trading to Australia After Official Relaunch
As the company claims, the Australian rollout comes with competitive pricing at 30 basis points spread, positioning Webull among the lowest-cost crypto trading options in the market. Users can trade through individual accounts, Self-Managed Super Funds, trusts, and company structures.Rob Talevski, CEO of Webull Securities Australia.
"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, when they want," said Rob Talevski, CEO of Webull Securities Australia.
Webull partnered with Coinbase Prime to provide the trading infrastructure, custody services, and real-time market data for the Australian launch. The collaboration mirrors the company's approach in other markets where it has reintroduced crypto trading after a two-year hiatus.
Rapid Global Expansion Following US Return
The Australian launch follows Webull's Monday reintegration of crypto trading into its primary US app after requiring American customers to use a separate Webull Pay application since 2023. The US relaunch brought back trading for over 50 cryptocurrencies including Bitcoin, Ethereum, and Solana.Anthony Denier, Source: LinkedIn
Anthony Denier, US CEO and Group President, said the consolidation addressed customer complaints about managing multiple apps. The company had discontinued crypto on its main US platform in 2023, forcing users who wanted digital asset exposure to download a standalone application.
“Our mission has always been to deliver a streamlined, user-centric investing experience,” Denier explained. “By reintegrating crypto trading into the Webull app, we are making it easier for customers to access and manage their entire portfolio, whether they're trading stocks, options, or digital assets.”
Brazil served as Webull's testing ground for the return to integrated crypto trading. The company successfully relaunched digital assets there last month, providing management with confidence to expand the approach to other markets.
Technical Integration and Market Strategy
Webull had been hinting at expansion for some time before the Australian launch. In July, the company consolidated its crypto operations by merging Webull Pay LLC into the parent company, setting up infrastructure for global relaunches.
"The improving clarity of cryptocurrency regulations, both in the United States and internationally, underlies our decision to bring crypto trading back to our platform," Denier said during the July restructuring announcement.
The company plans to expand digital asset trading to additional markets over the coming months, but hasn't specified which regions will gain access next.
Webull, which entered Australia in 2022, currently serves more than 24 million registered users across 14 global markets and trades on NASDAQ under the ticker BULL. The company has also built other relationships with Coinbase, partnering with its Derivatives division last year to offer Bitcoin and Ethereum futures to US retail investors.