Webull has launched cryptocurrency trading for its users in Australia, offering access to more than 240 digital tokens. The financial services firm has partnered with Coinbase Prime to provide the trading infrastructure and secure custody for the new service.
Through a new partnership with Coinbase Prime, Webull, a trading platform based in the United States, has initiated crypto trading in Australia, providing access to up to 240 digital assets.
The company announced in a press release on Wednesday that the platform’s third global crypto market, following the United States and Brazil, will be launched with the implementation.
Webull claims that the Australian launch is one of the country’s most cost-effective crypto trading options, as it incorporates a 30-basis-point spread.
Webull Launch Sparks Fee War Among Australia Crypto Exchanges
According to analysts, the move is anticipated to pressure local exchanges to reduce fees or risk losing market share in an already competitive environment.
On Wednesday, Rob Talevski, CEO of Webull Securities Australia, declared that “crypto trading is the subsequent phase of our mission to enable Australians to trade what they desire, at their convenience.”
Retail users can manage digital assets in addition to equities and ETFs by integrating the offering across individual accounts, SMSFs, trusts, and corporate structures, thereby integrating crypto within traditional investment frameworks.
Additionally, the platform offers 24/7 customer support, over 40 technical indicators, and premium charting tools.
The launch occurs just days after Webull resumed crypto trading in the United States, following a temporary suspension during its 2023 public listing procedure.
CEO Anthony Denier characterized the return as a component of the company’s “full-throttle” global expansion into digital assets.
Webull’s Australian crypto service is powered by Coinbase Prime’s infrastructure, which provides institutional-grade custody, real-time market data, and transaction execution. The action further solidifies Coinbase’s ongoing efforts to establish global B2B partnerships.
Webull is positioning itself as a cost-effective alternative to Australia’s established crypto exchanges, which have faced criticism for their high fees and limited service features, with additional international rollouts anticipated later this year.
ASIC Shuts Down 14,000 Scam Sites
Since July 2023, ASIC, the securities regulator of Australia, has removed more than 14,000 fraudulent and phishing websites. Crypto-related fraud accounts for 20% of the removals.
The agency currently targets 130 new pernicious sites each week, which include deceptive social media ads and AI-powered schemes that promise passive crypto income.
The January–July 2025 enforcement update from ASIC emphasizes the development of scam tactics, such as “AI washing,” false celebrity endorsements, and cloaking.
After $35.8 million in losses reported by victims in 14 countries, the regulator has launched 345 new investigations, imposed $57.5 million in civil penalties, and wound up 95 companies associated with international pig slaughter schemes.
In 2024, Australians lost $945 million to investment scams, making it the most damaging fraud category in the country, even though scam losses were down from the $3.1 billion apex seen in 2022.
ASIC has also pursued greenwashing, misconduct in superannuation funds, and unlicensed operators in its broader enforcement efforts. This includes the prosecution of Brendan Gunn, the director of Mormarkets, for allegedly managing scam proceeds.