Webull Corporation (NASDAQ:BULL) shares rose 4% on Wednesday after the company announced plans to resume cryptocurrency trading in the United States during the third quarter as part of a broader restructuring.
The online brokerage said it will reintegrate Webull Pay LLC into the core Webull group, consolidating its crypto operations under one structure. The move comes after the firm recently launched crypto trading services in Brazil and signals further international expansion later this year.
“The improving clarity of cryptocurrency regulations, both in the United States and internationally, underlies our decision to bring crypto trading back to our platform,” said Anthony Denier, Group President and U.S. CEO of Webull. “With this consolidation, the Company will be better positioned to meet the needs of our customers.”
The business combination involves making Webull Pay Inc.—the parent of Webull Pay LLC—a wholly owned subsidiary of Webull Corporation. The transaction has already received approval from a special board committee and Webull Pay Inc. shareholders, but still requires regulatory clearance and satisfaction of other closing conditions.
Webull said the restructuring will enhance its ability to leverage blockchain technology as part of its financial services offerings. Currently, the company’s crypto trading is only active in Brazil, but additional market launches are planned over the coming months.
Webull Corporation stock price
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.