Coinbase and Webull Enhance Crypto Trading Partnership for 25 Million Users

Coinbase has expanded its partnership with Webull, integrating its Crypto-as-a-Service (CaaS) platform to enhance crypto trading capabilities across Webull’s ecosystem. This collaboration, which replaces Webull’s previous relationship with Bakkt, aims to provide regulated access to digital assets for approximately 25 million users globally.

The integration, which began rolling out in June 2025, has significantly broadened Webull’s crypto offerings from a limited selection to around 101 supported tokens, with plans to increase this number to over 300. The CaaS platform enables Webull to leverage Coinbase’s backend infrastructure while maintaining its own user interface.

As part of the partnership, Webull has also introduced futures contracts for popular cryptocurrencies such as Dogecoin, Solana, XRP, and Litecoin, utilizing Coinbase Derivatives. These futures contracts are CFTC-cleared, providing a regulated alternative to unregulated perpetual swaps offered by offshore exchanges.

Webull’s crypto trading capabilities have also expanded internationally, launching in Australia with support for up to 240 tokens via Coinbase Prime. This move features competitive 30-basis-point spreads, further enhancing the trading experience for users.

For Coinbase, this partnership represents a significant revenue stream independent of its own trading platform, as every trade executed through Webull generates revenue for Coinbase’s infrastructure. Both companies emphasize the importance of scalability within a regulated framework, incorporating advanced risk management tools and a cautious approach to introducing new tokens.