Webull has launched its crypto trading service for Australian users, allowing access to 240 different digital assets and a competitive 30 basis point spread through Coinbase Prime. Experts believe this move will put pressure on local exchanges to reduce their trading fees, which have historically been higher than international rates, in some cases more than double for major cryptocurrencies like Bitcoin and Ethereum. With this launch, Webull aims to expand options for Australian traders, as local exchanges typically offer a limited selection of cryptocurrencies. The CEO of Webull emphasized a 'full-throttle' approach to global expansion in the crypto market. Experts noted that while Webull may face strong competition from established players in Australia, the added competition is expected to lead to better fee structures and enhanced services for users. The successful integration of crypto into broader financial models is seen as reliant on building user trust and offering a secure trading environment.

Source đź”—