Robinhood Expands into Canada with $180 Million WonderFi Acquisition
Robinhood Markets has officially completed its $180 million acquisition of WonderFi, a prominent digital asset services firm based in Toronto. This strategic move marks Robinhood’s official entry into the Canadian cryptocurrency market and accelerates its global expansion plans.
Robinhood Absorbs Major Canadian Crypto Platforms
WonderFi is well-known for operating Bitbuy and Coinsquare, two of Canada’s fully regulated crypto trading platforms. Following the buyout, both platforms will integrate into Robinhood.
Existing users of Bitbuy and Coinsquare will soon receive invitations to migrate their accounts over to the main Robinhood app. This transition allows Robinhood to instantly scale its regional user base.
Accelerating International and Institutional Growth
The acquisition adds approximately 300,000 Canadian users to Robinhood’s ecosystem. With this addition, the Nasdaq-listed trading platform now boasts over 1 million funded customers outside of the United States.
“WonderFi has extensive experience operating regulated crypto platforms that serve beginner and advanced crypto users alike, making it an ideal partner to accelerate Robinhood’s mission in Canada.” — Johann Kerbrat, SVP and GM of Robinhood Crypto & International
Furthermore, Robinhood plans to maintain WonderFi’s existing partnerships with local financial institutions. This move will help expand Robinhood’s institutional business, building on its momentum from acquiring Bitstamp last year.
Delayed Timeline for Regulatory Approvals
Robinhood first announced the deal to buy WonderFi in May 2025 as part of its international growth strategy. While executives initially expected the deal to close by late 2025, both companies agreed to extend the deadline.
The delay gave Robinhood the necessary time to secure Canadian regulatory approvals. It also allowed the company to smoothly deploy its proprietary trading technology across the region.
HOOD Stock Price Reacts to the News
Despite the major expansion milestone, Robinhood’s stock experienced a downturn. Robinhood (HOOD) shares fell 3.8% on Monday, closing the trading day at $90.73. The stock remains down 21.3% year-to-date as market volatility continues to impact retail trading platforms.
