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Robinhood Markets has entered Canada after completing its $180 million stock acquisition of WonderFi, a Toronto-based digital asset company. The deal gives Robinhood access to regulated Canadian crypto platforms Bitbuy and Coinsquare, expanding its international crypto business.
The acquisition also adds about 300,000 funded customers from WonderFi. Robinhood said its funded customers outside the United States now exceed 1 million after the deal.
The firm announced on Monday, June 1, 2026, that it had completed the acquisition of WonderFi. The Canadian company operates Bitbuy and Coinsquare, two regulated crypto platforms in the country. Both platforms will now come under Robinhood’s business, while users will be invited to continue on the Robinhood app.
The transaction marks Robinhood’s formal entry into Canada. It also gives the US-listed trading platform access to local licenses and regulatory approvals. WonderFi’s employees, including its leadership team, will stay with the company after the acquisition.
Johann Kerbrat, senior vice president and general manager of Robinhood Crypto and International, said WonderFi brings local experience to the company’s Canadian expansion.
He said, “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.”
Meanwhile, the company said that it will continue to support WonderFi’s partnerships with local institutions. The company expects those ties to help expand its institutional business, which grew after Robinhood acquired Bitstamp last year.
Robinhood first announced the WonderFi acquisition in May 2025. The agreement valued WonderFi at 36 Canadian cents per common share, equal to about $0.26. The deal had been expected to close in the second half of 2025, but the deadline was later extended.
According to reports, the extension gave the firm more time to deploy its proprietary technology in Canada and complete regulatory approvals. WonderFi’s shares traded between 34 and 36 Canadian cents over the past month, according to Google Finance data shared in the reports.
WonderFi disclosed in March that Bitbuy and Coinsquare generated combined revenue of $49.8 million in 2025. The platforms are among Canada’s largest crypto exchanges, giving the company a direct route into a regulated crypto market with existing users.
Additionally, Robinhood said the deal brings about 300,000 funded customers from WonderFi. The company now has more than 1 million funded customers outside the US, reflecting its continued push into international markets.
Canada’s crypto market has continued to attract trading platforms and digital asset firms. Crypto payments company Triple A estimated that about 4.1% of Canadians own crypto. Meanwhile, Grand View Research estimated that the Canadian crypto market generated around $263 million in revenue in 2025.
The same research firm projected that Canadian crypto market revenue could pass $1 billion by 2033. It also described Canada as the fastest-growing regional market in North America, with hardware helping drive market revenue.
Robinhood entered US crypto trading in February 2018. Since then, the company has expanded its crypto products, international reach, and infrastructure. In February, Robinhood also launched an Ethereum layer-2 network on testnet, with plans for a mainnet launch later this year.
Robinhood CEO Vlad Tenev said the layer-2 network processed 4 million transactions during its first week of public testnet activity. However, the company’s stock fell 3.8% on June 1 to close at $90.73. HOOD remains down 21.3% year-to-date, according to market data, at press time.
Also Read: Robinhood Q4 Earnings: Crypto Slump Weighs on Revenue Despite EPS Beat
