Robinhood Enters Canadian Crypto Market With WonderFi Acquisition

• The release from Robinhood made note of their ongoing support for WonderFi’s collaborations with local institutions.
• WonderFi runs Bitbuy and Coinsquare, two regulated crypto platforms that are among the biggest digital asset firms in Canada, and handles over C$2.1 billion in assets under custody.

On Monday, Robinhood Markets announced that it had finished buying up WonderFi, a digital asset services business located in Toronto, for $180 million. Bitbuy and Coinsquare, two licensed cryptocurrency platforms in Canada, are run by WonderFi. Users of both will be asked to stay on the Robinhood app when they are integrated. WonderFi runs Bitbuy and Coinsquare, two regulated crypto platforms that are among the biggest digital asset firms in Canada, and handles over C$2.1 billion in assets under custody.

Johann Kerbrat, SVP, General Manager of Robinhood Crypto & International, said that WonderFi is a perfect partner to expedite Robinhood’s aim in Canada due to its vast expertise running regulated crypto platforms that cater to both novice and experienced crypto customers.

Strategic Expansion

The release from Robinhood made note of their ongoing support for WonderFi’s collaborations with local institutions. Following last year’s purchase of Bitstamp, Robinhood’s institutional business is anticipated to see more expansion as a result of this. Robinhood will augment WonderFi’s institutional skills gained via Bitstamp and will keep serving its institutional clientele. Workers from WonderFi will now be part of Robinhood’s team in Canada.

With the addition of 300,000 users from the Canadian company WonderFi, Robinhood announced that it now has over 1 million financed clients outside of the U.S. In May 2025, as part of its larger effort to penetrate overseas crypto markets, the Nasdaq-listed U.S. retail trading platform first announced the purchase of WonderFi.

Both sides agreed to push back the closing date of the agreement from its earlier estimate of the second half of 2025 so that Robinhood could finish obtaining regulatory permits and deploying its proprietary technologies in Canada.

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