Robinhood completed its $180 million WonderFi acquisition, gaining direct access to Canada’s regulated crypto market.
Crypto News
Robinhood Markets completed its acquisition of WonderFi Technologies on June 1, marking the US trading platform's first direct entry into the Canadian cryptocurrency market. WonderFi's common shares are set to be delisted from the Toronto Stock Exchange at the close of trading on June 2.
The all-cash transaction was valued at C$250 million, or approximately $180 million. Robinhood paid C$0.36 per share under a statutory plan of arrangement, representing a 41% premium over WonderFi's closing price on May 12, 2025. WonderFi shares had been trading between 34 and 36 Canadian cents in the period before closing.
Through the acquisition, Robinhood gains direct ownership of Bitbuy and Coinsquare, two of Canada's longest-running regulated crypto exchanges. The two platforms held a combined C$2.1 billion in assets under custody before the deal closed and generated $49.8 million in combined revenue in 2025. Coinsquare operates through its regulated subsidiary, Coinsquare Capital Markets Ltd. (CCML), which holds registration with the Canadian Investment Regulatory Organization (CIRO).
CIRO granted approval for CCML on May 20, clearing the final regulatory condition required to close the deal. WonderFi shareholders had approved the arrangement at a special meeting on July 17, 2025, and the Supreme Court of British Columbia issued a final court order four days later. The deal's original closing target in the second half of 2025 was extended to allow Robinhood additional time to deploy its proprietary technology in Canada and complete the regulatory process.
"We're pleased to have closed our acquisition and look forward to delivering innovative, user-centric investing products to Canadian customers," said Johann Kerbrat, SVP and GM of Robinhood Crypto. Canadian users will be able to trade 50+ cryptocurrencies at a flat 0.5% fee per CAD trade, funded via Interac e-Transfer or wire transfer.
Source: X
Canada Push Adds 300K Customers to Robinhood's Global Base
Robinhood expects to add approximately 300,000 funded Canadian customers through the acquisition, bringing its total international funded customer count to more than 1 million. WonderFi's full 115-person team, including its leadership, will remain with the business, bringing Robinhood's total Canadian workforce to 355 employees. The company had already established a Canadian engineering headquarters in Toronto in 2024.
Approximately 4.1% of Canadians currently hold crypto, and Canada is the fastest-growing regional crypto market in North America. Sector revenue in the country is projected to surpass $1 billion by 2033. Robinhood now holds an established regulatory footprint through CCML's existing licenses and compliance infrastructure, a position that would typically take years to build from scratch.
This is Robinhood's second major international crypto acquisition, following its purchase of Bitstamp in 2025. The company first entered US crypto trading in February 2018. In February 2026, Robinhood also launched the public testnet for Robinhood Chain, an Arbitrum-based Ethereum (ETH) layer-2 network designed to support tokenized real-world assets, which recorded 4 million transactions in its first week.
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