Webull Pay has announced a strategic partnership with Coinbase to launch cryptocurrency trading, custody, and staking services through Coinbase's Crypto-as-a-Service (CaaS) platform starting in June 2025. The deal, jointly announced on Friday, marks a significant step in integrating traditional fintech platforms with regulated crypto infrastructure.
Key Details: Custody, Trading and USDC Support
Under the agreement, Webull Pay will gain access to Coinbase's institutional-grade infrastructure, including custody solutions, advanced trading systems, and support for the stablecoin USDC. Users will also be able to participate in staking services, earning passive income on digital assets. Coinbase's blog post noted that its technology is already used by major financial institutions, though specific financial terms of the deal were not disclosed.
Stephen Yip, CEO of Webull Pay, stated: "This collaboration unlocks powerful capabilities that will accelerate innovation on our platform, giving customers greater access, flexibility, and opportunity in the evolving crypto landscape." He emphasized that the integration will leverage Coinbase's liquidity pools and security protocols designed to handle high transaction volumes.
Market Context and International Expansion
Launched in 2023, Webull Pay currently serves over 20 million global users, primarily through its stock trading app. The partnership comes amid growing demand for regulated crypto services from both retail and institutional investors. Coinbase, the largest U.S.-based crypto exchange, will act as the backend infrastructure provider while Webull Pay offers a branded crypto experience to its customers.
Importantly, both companies are exploring international expansion, potentially introducing Webull Pay-branded crypto services in overseas markets. A timeline for these efforts has not been provided. Beyond USDC, Webull Pay has not specified which other cryptocurrencies will be added.
Industry analysts see this collaboration as further validation of Coinbase's CaaS model, which expands crypto adoption by providing underlying technology to other financial institutions. For Webull Pay, the move represents a key step in transitioning from traditional brokerage services into the digital asset space.