Webull Relaunches Crypto Trading in U.S. After Two-Year Suspension 

Webull Financial, a digital brokerage investment platform, has reintroduced Cryptocurrency trading to its users in the U.S., after a two-year postponement. 

Trading will be integrated directly into Webull’s core investment app, Webull Pay, which will allow users to gain access to money distribution services and crypto across the U.S. 

Webull, which serves more than 24 million customers internationally, will grant users access to over 50 digital assets, including Bitcoin, Ethereum, and Solana. The brokerage also plans to expand its crypto trading offering into other markets in the coming months. 

The platform had scaled back on crypto trading after the brokerage previously required users to manage their digital assets through a separate implementation.  

The move from Webull to relaunch in the U.S. market comes after the brokerage completed a successful trial period in Brazil and after the firm completed an internal restructuring, which resulted in the consolidation of Webull Pay into its parent company. 

“Our mission has always been to deliver a streamlined, user-centric investing experience,” Anthony Denier, U.S. CEO and group president of Webull, said. “By reintegrating crypto trading into the Webull app, we are making it easier for customers to access and manage their entire portfolio, whether they’re trading stocks, options, or digital assets. This update removes friction and provides a seamless centralized platform for navigating all investment opportunities.” 

In 2023, the Financial Industry Regulatory Authority issued a $3 million fine against Webull, after the organization found that the firm failed to execute reasonable due diligence prior to approving customers for options trading, who did not meet the brokerage’s eligibility benchmarks between December 2019 and July 2021. 

Webull, went public on NASDAQ this April, following a merger with SK Growth Opportunities, a special purpose acquisition company. The combined business will have an enterprise value of approximately $7.3 billion, assuming no further redemptions by SK Growth shareholders. 

In November, Webull teamed with Coinbase Derivatives, to expand its crypto futures offering, including Ethereum and Bitcoin futures, to U.S. investors, as the platform seeks to further its growth beyond traditional cash market trading and into derivatives markets.