Robinhood Enters Canada After Closing $180M WonderFi Acquisition

Highlights:

• Robinhood has entered the Canadian crypto market after completing its $180 million acquisition of WonderFi.
• The WonderFi deal will add 300,000 funded customer accounts to Robinhood’s international business.
• Robinhood has also gained Bitbuy and Coinsquare through the acquisition.

Robinhood, a stock and crypto trading platform, has completed its $180 million acquisition of Toronto-based digital asset firm WonderFi, gaining entry into Canada’s regulated crypto market. The acquisition brings Canadian crypto exchanges Bitbuy and Coinsquare into Robinhood’s operations and expands the company’s regulated presence in Canada. In addition, the transaction adds roughly 300,000 funded customer accounts from WonderFi’s platforms to Robinhood’s customer base.

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🇨🇦Today, we welcome the WonderFi team to Robinhood.

WonderFi's extensive experience operating regulated crypto platforms make them an ideal partner to accelerate our mission in Canada. Together, we look forward to delivering innovative financial products for Canadians.…

— Johann Kerbrat (@JohannKerbrat) June 1, 2026

The acquisition increased Robinhood’s funded international customer base to more than 1 million accounts by adding WonderFi’s Canadian customers. The transaction also gives Robinhood access to licenses, regulatory approvals, and compliance infrastructure that support crypto operations across Canada. Robinhood said WonderFi employees and executives will remain with the business and continue managing Canadian operations.

The acquisition closed after WonderFi secured shareholder approval, regulatory approval, and a final court order. WonderFi shareholders approved the acquisition arrangement in July last year and allowed the transaction to proceed toward final regulatory review.

Later, the Supreme Court of British Columbia issued a final court order that allowed Robinhood and WonderFi to complete the transaction. In May, the Canadian Investment Regulatory Organization approved Coinsquare Capital Markets and cleared the final regulatory requirement needed to close the deal.

Trading Platforms Position Robinhood For Canada Growth

Bitbuy and Coinsquare rank among Canada’s largest regulated crypto exchanges and serve a significant share of the country’s crypto trading market. WonderFi disclosed in March that Bitbuy and Coinsquare generated a combined $49.8 million in revenue in last year through their crypto trading operations.

Bitbuy is now part of Robinhood.

Your account will continue to be held and operated by Coinsquare Capital Markets Ltd., a registered Investment Dealer and Member of the Canadian Investment Regulatory Organization (CIRO).

Key changes coming:
• A new Robinhood-branded mobile and… pic.twitter.com/FffoDZ6v3z

— Bitbuy (@bitbuy) June 1, 2026

Johann Kerbrat, General Manager of Robinhood Crypto and International, highlighted WonderFi’s role in Robinhood’s Canadian expansion plans. “WonderFi’s 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,” Kerbrat said.

Robinhood expects the acquisition to expand its institutional crypto business by leveraging WonderFi’s existing relationships with Canadian institutions. The trading platform also acquired Bitstamp in June last year to expand its crypto services.

Expansion Efforts Continue Beyond The Deal

Robinhood completed the WonderFi acquisition in Canada after reporting weaker crypto trading revenue during the first quarter of this year. The platform reported $134 million in crypto revenue during the period as trading activity slowed from year-earlier levels. During the first quarter of last year, Robinhood generated $252 million in crypto revenue before activity declined in 2026.

Despite weaker crypto revenue, Robinhood generated total net revenue of $1.07 billion during the first quarter of this year. That result marked a 15% increase from the same period a year earlier and reflected growth across other business segments.

Meanwhile, Robinhood recently launched Agentic Trading and Agentic Credit Card services that allow customers to automate trading and spending activities. The services allow customers to connect AI agents to dedicated trading and spending accounts. Robinhood said the system keeps AI agents separate from customers’ primary accounts while allowing automated actions within user-defined limits.

In a related development, Robinhood launched an Ethereum layer-2 network on a public testnet in February as part of its blockchain expansion strategy. The company plans to launch the network’s mainnet later this year.

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