Robinhood completes WonderFi acquisition and enters Canada
Acquisition adds 300,000 crypto customers and brings Bitbuy and Coinsquare into Robinhood’s digital asset business.
Robinhood completed its acquisition of WonderFi, marking its entry into the Canadian market through an established digital asset operator. The transaction brings WonderFi's crypto platforms, Bitbuy and Coinsquare, under Robinhood's ownership and adds approximately 300,000 funded customers to its international customer base. The move strengthens Robinhood's presence outside the United States while expanding its access to Canada's regulated digital asset market.
Key highlights
Acquisition journey reaches completion: The acquisition process began in May 2025 when Robinhood entered into a definitive agreement to acquire WonderFi. The transaction closed after receiving the required approvals, completing Robinhood's entry into Canada.
Bitbuy and Coinsquare become part of Robinhood: WonderFi's two regulated crypto trading platforms, Bitbuy and Coinsquare, will operate under the Robinhood brand. Canadian customers will be invited to use the Robinhood app and gain access to digital asset trading through the platform.
Expanded international customer base: Robinhood now serves more than one million international funded customers, including approximately 300,000 funded customers acquired through WonderFi.
Institutional relationships remain in place: WonderFi has established relationships with Canadian institutional clients, and Robinhood intends to continue supporting those partnerships while integrating them into its broader digital asset business.
Canadian operations gain additional scale: WonderFi employees will join Robinhood's Canadian workforce, which already includes more than 240 employees. Robinhood established its Toronto headquarters in 2024 as an engineering hub supporting its international operations.
Flat-fee trading introduced for Canadian users: Robinhood plans to offer Canadian customers crypto trading through its platform with a flat 0.5% fee per CAD trade as part of the integration strategy.
What this tells us and the broader trend
This transaction highlights a growing trend of global FinTech firms using acquisitions to enter regulated digital asset markets rather than building local operations from the ground up. The process began with the acquisition agreement in May 2025 and concluded in June 2026, illustrating the regulatory and operational complexity involved in cross-border FinTech transactions.
It also reflects ongoing consolidation within the crypto sector, where firms are combining trading platforms, customer bases and regulatory licences to expand more efficiently into new markets.
