AsianFin -- U.S.-based trading platform Webull has rolled out cryptocurrency trading services in Australia, broadening its global footprint and heightening pressure on local exchanges that have long charged some of the industry’s highest fees.

The service, launched on Wednesday via Coinbase Prime, gives Australian users access to more than 240 digital assets, making the country Webull’s third crypto market after the U.S. and Brazil. The company said it will offer trading at a 30-basis-point spread, a rate that undercuts many domestic rivals.

Analysts say the move could shake up Australia’s crypto exchange landscape, where trading costs have remained elevated compared with international peers.

“Australian exchanges have much higher fees and spreads compared to our international peers; in some cases, more than double the spread even for liquid pairs like Bitcoin and Ethereum,” said Pratik Kala, head of research and portfolio manager at Apollo Crypto.

He added that the range of tokens available is also limited domestically, with local exchanges listing only a fraction of the assets accessible overseas. By introducing a broader offering, Webull’s entry “will expand overall options for Australians,” Kala noted.

With demand for digital assets continuing to grow, industry watchers expect Webull’s arrival to force incumbents to either cut costs or risk losing market share to international players with deeper product lines and more competitive pricing.