Robinhood has officially entered Canada after completing its $180 million acquisition of WonderFi, a local crypto technology company. The deal brings two of Canada’s largest crypto exchanges, Bitbuy and Coinsquare, under Robinhood’s control, marking a significant expansion for the stock and crypto trading platform into the North American market.
The acquisition closed on Monday and grants Robinhood access to WonderFi’s existing licenses and regulatory approvals in Canada. Johann Kerbrat, general manager of Robinhood Crypto and International, stated that WonderFi’s experience operating regulated crypto platforms serving both beginner and advanced users makes it an ideal partner to accelerate Robinhood’s mission in the country.
Bitbuy and Coinsquare generated combined revenue of $49.8 million in 2025, according to WonderFi’s March disclosure. The platforms represent a substantial foothold in Canada’s growing crypto ecosystem. This follows a pattern seen in related coverage of market expansion strategies as major platforms seek geographic diversification.
Canada represents an attractive market for crypto expansion. According to crypto payments company Triple A, approximately 4.1% of Canadians currently own cryptocurrency. Analytics firm Grand View Research estimated that Canada’s crypto market generated around $263 million in revenue in 2025, driven primarily by hardware sales. The firm projects total revenue will surpass $1 billion by 2033, positioning Canada as the fastest-growing regional market in North America.
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Robinhood will retain WonderFi’s existing leadership team and employees as part of the deal structure. The acquisition is expected to bring approximately 300,000 funded customers into the Robinhood ecosystem, providing immediate scale in the Canadian market.
The two companies first entered into an agreement last May at 36 Canadian cents per common share, equivalent to $0.26 USD. WonderFi’s stock has remained relatively stable, trading between 34 and 36 Canadian cents over the past month, according to market data from Google Finance.
This Canadian expansion represents Robinhood’s latest international push. The company entered the U.S. crypto trading market in February 2018 and has since expanded its offerings significantly. In April, Robinhood was selected to serve as brokerage and initial trustee for Trump Accounts, a new tax-advantaged investment account program designed for children.
Beyond traditional crypto trading, Robinhood has been developing blockchain infrastructure. The company launched an Ethereum layer-2 network on testnet in February with plans for a mainnet launch later in 2026. CEO Vlad Tenev reported that the network processed 4 million transactions during its first week of public testnet activity, demonstrating substantial user interest in the platform’s scaling solution.
The WonderFi acquisition positions Robinhood to compete more effectively in the Canadian market against other established crypto platforms. By acquiring two established exchanges with existing regulatory approvals, Robinhood bypassed lengthy licensing processes that typically slow market entry for crypto companies.
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Canada’s regulatory environment for cryptocurrency has become increasingly sophisticated, with provincial securities regulators establishing clearer frameworks for crypto trading platforms. WonderFi’s existing approvals provide Robinhood with immediate compliance standing across Canadian jurisdictions.
The deal also reflects broader consolidation trends in the crypto exchange industry, where larger platforms acquire smaller regional players to expand market reach. This strategy allows Robinhood to leverage existing customer bases and operational infrastructure rather than building from scratch.
Robinhood’s expansion into Canada aligns with its stated mission to democratize financial trading. The company’s focus on serving both retail and advanced traders through its acquired platforms suggests a commitment to capturing diverse segments of the Canadian crypto market.
The acquisition is expected to generate operational synergies through shared technology infrastructure and cross-platform features. Robinhood’s existing U.S. user base may also benefit from expanded crypto trading options and potential integration with Canadian market access.
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