U.S. trading app Webull has launched cryptocurrency trading services for Australian users, marking its third crypto market after the U.S. and Brazil. The launch, facilitated through a partnership with Coinbase Prime, provides access to 240 digital assets—including major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL)—with a competitive 30-basis-point spread.
The move is seen as a direct challenge to incumbent Australian exchanges, which experts say charge significantly higher fees. Pratik Kala, Head of Research at Apollo Crypto, noted that local exchanges often charge more than double the spread for liquid pairs like BTC and ETH compared to international peers. He emphasized that Webull’s entry with 240 coins will dramatically expand options for Australian investors and force local players to reduce fees or risk losing customers.
This expansion follows Webull’s resumption of U.S. crypto trading on August 25, 2025, after suspending services in 2023 during its IPO process due to regulatory challenges under the Biden administration. CEO Anthony Denier acknowledged that halting crypto services “wasn’t what our customers wanted,” and the relaunch aligns with the company’s “full-throttle” global expansion strategy.
Rob Talevski, CEO of Webull Australia, stated that adding cryptocurrencies is part of the platform’s mission to give Australian investors “the freedom to trade what they want.” The service supports trading through individual accounts, SMSFs, trusts, and company structures, integrating crypto into traditional investment frameworks with 24/7 customer support.
Industry observers like James Volpe, Founding Director of uCubed, caution that Webull faces entrenched competition in Australia but acknowledge that new entrants raise the bar for incumbents, potentially leading to more competitive fees and improved user experiences. However, Volpe also highlighted the importance of addressing custody risks and the broader shift toward non-custodial technologies.