Webull Pay partnered with Coinbase to launch crypto services

Webull Pay partnered with Coinbase in a deal that enables Webull Pay's crypto services to run on Coinbase's institutional-grade infrastructure.

Coinbase has partnered with Webull Pay to integrate the latter’s crypto services with the former’s institutional-grade infrastructure. The partnership will also see the launch of new crypto products and features.

Coinbase will be providing its Crypto-as-a-Service (CaaS) platform to support Webull Pay’s crypto services. This will include everything from trading execution and custody to staking capabilities and access to USDC, Coinbase’s dollar-backed stablecoin.

“We’re excited to partner with Coinbase to bring new features, expanded product offerings, and a wider range of coins to trade on Webull Pay,” said Stephen Yip, CEO of Webull Pay.

“This collaboration unlocks powerful capabilities that will accelerate innovation on our platform, giving customers greater access, flexibility, and opportunity in the evolving crypto landscape. Together, we’re building the future of digital asset trading.”

The move will see Webull Pay upgrade its backend with the same institutional-grade infrastructure used by major financial institutions. The aim is to provide a secure and seamless user experience, which Webull Pay can then use to scale with the evolving crypto market.

The platform will offer users deep liquidity, tight spreads, and the potential for yield through staking and USDC rewards.

Coinbase and Webull Pay are also exploring joint efforts to extend their services to new markets around the world. This will see Webull Pay-branded crypto offerings arrive in new regions, powered by Coinbase’s global infrastructure and compliance frameworks.

The deal also includes access to Coinbase’s USDC rewards program. Users who hold USDC through Webull Pay will be automatically enrolled in the loyalty scheme, although they can opt out if they prefer.

However, it’s worth noting that these reward-bearing accounts are not FDIC- or SIPC-insured and are not savings accounts. Rates can vary and are subject to change.

Meanwhile, Coinbase is set to join the S&P 500 index this month. The index tracks the largest 500 publicly listed companies in the US across various sectors. The crypto exchange will be listed in the financials sector, replacing Discover Financial Services, which is being acquired by Capital One.