Robinhood closes $180M WonderFi deal to enter Canada

Robinhood completed its $180 million acquisition of Toronto-based WonderFi, the operator of Canadian crypto exchanges Bitbuy and Coinsquare. The transaction was announced Monday and brings those regulated platforms into the Robinhood app.

Existing Bitbuy and Coinsquare users will be invited to move their accounts to Robinhood. Robinhood plans to maintain WonderFi's partnerships with Canadian financial institutions.

Johann Kerbrat, senior vice president and general manager of Robinhood Crypto & International, praised WonderFi's regulatory experience and customer reach, calling the firm “an ideal partner to accelerate Robinhood's mission in Canada.”

Robinhood described the acquisition as part of its plan to grow international crypto operations and expand its institutional business after the company's purchase of Bitstamp last year. Robinhood reported WonderFi adds about 300,000 funded accounts and brings the total to more than 1 million funded customers outside the United States.

Robinhood and WonderFi first announced the agreement in May 2025. The closing had been expected in the second half of 2025 but the companies extended the deadline to allow Robinhood to deploy its technology in Canada and to complete regulatory approvals. Those steps are now complete and the transaction has closed.

On the day of the announcement, Robinhood shares fell 3.8% to close at $90.73, leaving the stock down about 21.3% year-to-date.

WonderFi operates two of Canada's regulated crypto platforms and serves both new and experienced crypto users. Robinhood noted integrating the platforms into its app will streamline access for Canadian customers while preserving local institutional ties.