Robinhood Enters Canadian Crypto Market With WonderFi Acquisition

TheNewsCryptoPublished on 2026-06-02Last updated on 2026-06-02

Abstract

Robinhood Markets has completed its acquisition of Canadian digital asset services company WonderFi for $180 million. WonderFi operates two of Canada's largest regulated crypto platforms, Bitbuy and Coinsquare, which collectively hold over C$2.1 billion in assets. This strategic move grants Robinhood access to WonderFi's approximately 300,000 users, bringing Robinhood's total non-U.S. funded client base to over 1 million. The acquisition, initially announced in May 2025 as part of Robinhood's international crypto expansion, was finalized after a delay to secure necessary regulatory approvals and integrate Robinhood's technology in Canada. WonderFi's team will join Robinhood, and the company's institutional expertise, bolstered by Robinhood's prior acquisition of Bitstamp, is expected to further grow Robinhood's institutional business. Users of Bitbuy and Coinsquare will be migrated to the Robinhood app.

On Monday, Robinhood Markets announced that it had finished buying up WonderFi, a digital asset services business located in Toronto, for $180 million. Bitbuy and Coinsquare, two licensed cryptocurrency platforms in Canada, are run by WonderFi. Users of both will be asked to stay on the Robinhood app when they are integrated. WonderFi runs Bitbuy and Coinsquare, two regulated crypto platforms that are among the biggest digital asset firms in Canada, and handles over C$2.1 billion in assets under custody.

Johann Kerbrat, SVP, General Manager of Robinhood Crypto & International, said that WonderFi is a perfect partner to expedite Robinhood’s aim in Canada due to its vast expertise running regulated crypto platforms that cater to both novice and experienced crypto customers.

Strategic Expansion

The release from Robinhood made note of their ongoing support for WonderFi’s collaborations with local institutions. Following last year’s purchase of Bitstamp, Robinhood’s institutional business is anticipated to see more expansion as a result of this. Robinhood will augment WonderFi’s institutional skills gained via Bitstamp and will keep serving its institutional clientele. Workers from WonderFi will now be part of Robinhood’s team in Canada.

With the addition of 300,000 users from the Canadian company WonderFi, Robinhood announced that it now has over 1 million financed clients outside of the U.S. In May 2025, as part of its larger effort to penetrate overseas crypto markets, the Nasdaq-listed U.S. retail trading platform first announced the purchase of WonderFi.

Both sides agreed to push back the closing date of the agreement from its earlier estimate of the second half of 2025 so that Robinhood could finish obtaining regulatory permits and deploying its proprietary technologies in Canada.

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Related Questions

QWhat was the acquisition price of WonderFi by Robinhood Markets?

ARobinhood Markets acquired WonderFi for $180 million.

QWhat are the two Canadian crypto platforms operated by WonderFi?

AWonderFi operates Bitbuy and Coinsquare, two regulated cryptocurrency platforms in Canada.

QWhat is the significance of WonderFi's platforms for Robinhood's expansion in Canada according to Johann Kerbrat?

AJohann Kerbrat stated that WonderFi's vast expertise in running regulated platforms for both novice and experienced crypto customers makes it a perfect partner to expedite Robinhood's aim in Canada.

QHow many funded clients does Robinhood now have outside the U.S. following the WonderFi acquisition?

AWith the addition of WonderFi's users, Robinhood now has over 1 million funded clients outside the United States.

QWhy was the closing date of the Robinhood-WonderFi agreement pushed back from its earlier estimate?

AThe closing date was pushed back to allow Robinhood to finish obtaining regulatory permits and deploying its proprietary technologies in Canada.

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