Australia’s arm of the trading platform Webull launched crypto services in Australia just days after the Crypto offer reinstated in the US, following market release two years ago.
Webull Australia Says On Wednesday the platform will offer 240 cryptocurrencies in a cooperation with Coinbase Prime.
“The addition of cryptocurrencies and digital tokens to the Webull platform represents the next stage of our ongoing mission to give Australian investors the freedom to exchange what they want,” webull Securities Australia CEO Rob Talevski said.
It came after the Webull returned the Crypto offering to the US on Monday amid a more lovely crypto policy policy. The firm pulled its crypto service in 2023 under the Biden Administration, around the time it was trying to go public.
Webull mull expands in more regions
Webull CEO Anthony Denier said Bloomberg on Monday said that when the firm removes crypto services from the US, this is not what their customers want. “This is a natural kind of return to our clients’ expectations.”
In a separate statement on Monday, the company Says It expects expansion to more markets in the coming months. The company launched crypto trading in Brazil earlier this year.
Webull (Bull) shares closed the trade on Monday down 2.67% and its stock price was exchanged flat on Tuesday, closing the trade under 0.3% to $ 15.
Entry into the Australian market comes in the middle of concerns in the local industry
Moving Webull to offer crypto to Australia follows growing concerns in the local crypto industry about the fall behind global development.
The industry has recently called on the new reelected Labor government to force the law of the digital asset to ensure that Australia does not fall behind global markets.
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The leader of the Global Regulatory and APAC Legal, Joy Lam, recently told Cointelegraph, “Time is really critical now because it’s obviously something that has been discussed and kicked for a few years.”
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