Webull Canada received CIRO approval to offer crypto trading, joining Wealthsimple and Coinbase in Canada's regulated market. Launch timing not set.
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Webull Canada received approval from the Canadian Investment Regulatory Organization to offer cryptocurrency trading, the company said June 30. The green light covers Webull Canada Crypto, a subsidiary the online brokerage set up for digital assets.
CIRO oversees investment dealers and trading activity in Canada. The approval means Webull Canada can hold client crypto alongside traditional securities under a single registered dealer structure. That differs from the model used by some Canadian platforms, which operate subsidiaries under provincial securities regulators rather than CIRO’s national framework.
Webull said the service would go live “in the coming months.” A specific date was not announced. The company did not disclose which cryptocurrencies it would list or what custody arrangements it had secured.
The move adds Webull to a Canadian market already served by platforms such as Wealthsimple, Coinbase Canada, and the Canadian arm of Binance, which has been in a compliance transition since regulators tightened rules on unregistered exchanges in 2023. CIRO’s framework requires crypto trading platforms to follow the same capital, segregation, and reporting rules that apply to equities and bonds.
For existing Webull users who already trade stocks and ETFs in Canadian and U.S. markets, crypto access eliminates the need for a second account. The brokerage has about 1.2 million funded accounts across Canada and the U.S., according to a company filing from 2025.
CIRO approval also carries implications for custody. Under current rules, registered dealers must hold client crypto with a qualified custodian that meets the same audit and insurance standards as traditional asset custodians. Webull Canada Crypto’s custodian was not named in the announcement.
The approval follows a pattern of Canadian regulators bringing crypto trading under existing dealer rules rather than creating a separate regime. CIRO published its first crypto-specific guidance in 2024, requiring platforms to disclose how they handle wallet security, settlement times, and the difference between crypto and securities protections. Webull Canada said it met all those requirements.
Several Canadian crypto platforms have faced regulatory pushback on staking and leverage offerings. Webull Canada’s initial service will focus on spot trading, the company said. Staking, margin lending, or derivatives were not announced.
Trading volumes on Canadian crypto platforms have recovered since a slump in 2022–2023, according to data from the Ontario Securities Commission. CIRO-registered platforms reported roughly C$6 billion in combined crypto trading volume in the first quarter of 2026, up from C$4.2 billion in the same period a year earlier.
Webull Canada expects to reveal pricing and available tokens closer to launch.
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