US Trading App Webull Launches Crypto Service in Australia to Challenge Incumbents
U.S. trading app Webull launched crypto services for Australian users on Wednesday, offering access to hundreds of different digital assets in a move experts say will force local exchanges to slash fees or risk losing customers.
The launch through Coinbase Prime adds Australia as Webull’s third crypto market, alongside the U.S. and Brazil, with the company promising a 30-basis-point spread, according to a statement.
Industry experts predict the entry will trigger competitive pressure across Australia’s crypto exchange market, where fees have remained stubbornly high compared to international markets.
Pratik Kala, head of research and portfolio manager at Apollo Crypto, told Decrypt that “Australian exchanges have much…
