Webull expands into Australia days after return to US market

Just days after reviving its US crypto operations, Webull has expanded to Australia. On Wednesday, the company’s Australian division revealed plans to offer direct trading in as many as 240 digital assets. The platform also disclosed that it will work with Coinbase Prime and expects to advance to additional markets throughout the year.

Webull Securities Australia CEO Rob Talevski remarked, “We’ve made crypto trading simple and easy to access for our Australian users, while Coinbase Prime provides the secure infrastructure that investors can rely on.” 

He added that the inclusion of more digital assets to the platform reflects its aim to give Australian investors wider access to different markets.

Webull Australia says it offers 24-hour support for users

Webull Australia now offers investors access to cryptocurrencies through individual, self-managed super funds (SMSF), trust, and company accounts, expanding the type of structures that can invest in digital assets. The platform also claims it provides 24/7 support.

Though Webull has introduced its crypto services in Australia, local industry players caution that the sector risks being left behind by global peers. Industry representatives have called on the re-elected Labor government to accelerate digital asset legislation. At the same time, Binance’s global regulatory head for APAC, Joy Lam, noted that “timing is really quite critical now” after years of delay.

Nevertheless, the Australian government is moving to tighten oversight of the sector, drafting new legislation and strengthening enforcement of existing rules, particularly for crypto products that resemble traditional financial instruments. It has also pledged to establish a licensing framework for custodians as part of broader financial reforms.

In February 2023, the Treasury also released a consultation paper on token mapping to help define and categorize crypto-assets in Australia. The government explained that the exercise was designed to assist regulators in framing appropriate oversight.

Webull revived its US crypto operations on Monday

On Monday, Webull Corporation announced it would be relaunching its crypto trading service to US investors after its two-year hiatus. The company has been serving investors in Brazil since June, but described its US launch as the first stage of a wider expansion in digital assets. 

Reportedly, the firm tried to list in the US last year, though those plans stalled due to regulatory issues tied to its cryptocurrency offerings.

The move marks Webull’s first step in a broader global push into crypto. US CEO Anthony Denier described it as a “full-throttle” expansion into “everything digital.” As reported by Cryptopolitan, Denier commented on their revival so far, saying, “When we removed crypto from the platform, it was against what our customers were asking for.. It’s a natural sort of return to what our clients expect.”

Denier  further noted that they could “give optionality for customers to manage their wealth and their growth.” Nonetheless, Webull’s stock (BULL) slipped 2.67% on Monday, then barely moved the next day, inching up less than 0.3% to finish at $15. 

The crypto feature was originally withdrawn in 2023, when Webull lined up a US stock exchange listing. Regulators under President Joe Biden were cracking down on crypto then, bringing legal risks that would eventually scuttle the company’s listing plans and service.

With Donald Trump back in the White House, the Washington mood on crypto has lightened. That shift has left Webull room to reintroduce its offering without suffering the same regulatory ambiguities.

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