The Australian division of trading platforms launched crypto services in Australia a few days after rebooting crypto products in the US after leaving the market about two years ago.
Webull Australia said Wednesday that the platform will offer 240 cryptocurrencies in a partnership with Coinbase Prime.
“The addition of cryptocurrency and digital tokens to the Webull platform represents the next step in our ongoing mission to provide Australian investors with the freedom to trade whatever they want.”
In Crypto’s more friendly policy environment, we will come after Webull rebooted Crypto’s offering on Monday. The company halted its crypto services in 2023 under the Biden administration when it was about to go public.
Webull Mar expands to more regions
Webull CEO Anthony Denier told Bloomberg Monday that when the company removed crypto services from the US it opposed what its customers wanted. “It’s a natural kind of return to what our clients expect.”
In another statement Monday, the company said it expects to expand to more markets over the coming months. The company began trading Crypto in Brazil earlier this year.
Webull (Bull) shares fell 2.67% from trading on Monday, with its shares trading flat on Tuesday, closing below 0.3% and under $15.
Bull has increased by 1.25% over the past five days. sauce: Google Finance
Entry into the Australian market comes amid concerns from local industry
Webull’s move to provide crypto in Australia continues to be driven by growing concerns about falling behind global development in the local crypto industry.
The industry recently called on the newly re-elected labor government to urgently prioritize the Digital Assets Act to ensure Australia remains further behind the global market.
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Joy Lam, head of Binance’s Global Regulatory and Apac Legal, recently told Cointelegraph:
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