Table of Contents
Robinhood has completed its acquisition of WonderFi, the Canadian digital asset company behind regulated crypto platforms Bitbuy and Coinsquare, marking the US brokerage's entry into the Canadian market.
The deal, announced Monday, was valued at C$250 million, with Robinhood paying C$0.36 per share in cash – a 41% premium to WonderFi's closing price on the Toronto Stock Exchange the day before the announcement was made public. WonderFi shares are expected to be delisted from the TSX on or around June 2, 2026.
With the close, Robinhood gains roughly 300,000 funded customers from WonderFi's existing base, pushing the company past 1 million international funded customers globally. Canadian users will be migrated to the Robinhood app, where they will access a flat 0.5% fee per CAD trade – positioned as a reduction from existing platform fees.
WonderFi's 115-person team joins Robinhood's Canadian workforce, which already numbered more than 240 employees. Robinhood established its Canadian headquarters in Toronto in 2024 as an engineering hub.
"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," said Johann Kerbrat, SVP and General Manager of Robinhood Crypto and International.
The acquisition extends Robinhood's international crypto infrastructure alongside Bitstamp, the European exchange it acquired in 2024, which the company has been using to build out its institutional business. WonderFi's existing institutional relationships in Canada will be maintained under Robinhood ownership, the company said.
Canada has been a cautious market for crypto platforms, with regulators requiring registration and ongoing disclosure from exchanges operating in the country. Both Bitbuy and Coinsquare hold regulatory standing in Canada, giving Robinhood a licensed entry point rather than requiring it to navigate registration from scratch.
The deal is Robinhood's second major international crypto acquisition in under two years, and signals continued appetite to expand its crypto business outside the US at a time when regulatory conditions domestically have become more favourable under the current administration.
