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NEW YORK - Webull (NASDAQ:BULL), the $7.76 billion market cap fintech company, announced Monday the return of cryptocurrency trading for U.S. residents directly within its main investment platform, eliminating the previous requirement to use the separate Webull Pay app. According to InvestingPro data, the company has demonstrated strong financial performance with an impressive 79.73% gross profit margin and 11.41% revenue growth in the last twelve months.
The updated service allows users to manage their Webull Pay accounts and trade cryptocurrencies within the primary Webull application, offering 24/7 real-time trading of over 50 digital assets including Bitcoin, Ethereum, and Solana. With a P/E ratio of 12.43, Webull’s stock appears attractively valued relative to its growth potential. InvestingPro subscribers can access detailed valuation metrics and 7 additional exclusive ProTips about Webull’s market position and growth prospects.
"By reintegrating crypto trading into the Webull app, we are making it easier for customers to access and manage their entire portfolio, whether they’re trading stocks, options, or digital assets," said Anthony Denier, U.S. CEO and Group President at Webull.
Stephen Yip, CEO of Webull Pay, noted that "cryptocurrencies have become an essential part of today’s diversified investment strategies."
The cryptocurrency trading feature is currently available only in the United States and Brazil, with the company stating that additional market rollouts are expected in coming months.
Webull operates as an online investment platform offering trading across various assets including securities, options, and futures. The platform serves more than 24 million registered users globally across 14 markets in North America, Asia Pacific, Europe, and Latin America, according to the company’s press release statement.
The reintegration aims to streamline the user experience by centralizing investment activities within a single application rather than requiring users to navigate between separate platforms for different asset classes.
In other recent news, Webull Corporation announced its plan to consolidate its crypto entities and reintroduce cryptocurrency trading in the United States during the third quarter. This move includes integrating Webull Pay LLC back into the Webull group as part of its global strategy, following the recent launch of crypto trading in Brazil. Additionally, Webull has secured a standby equity purchase agreement with Yorkville Advisors, allowing the company to issue up to $1 billion in Class A ordinary shares over a three-year period at a 2.5% discount to the market price. This agreement provides Webull with the flexibility to access capital at its discretion. The company’s partnership with Coinbase has enabled users in Brazil to trade cryptocurrencies such as Bitcoin and Ethereum directly on the platform. These developments highlight Webull’s efforts to expand its crypto trading capabilities and strengthen its financial resources.
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