Robinhood expands into Canada through WonderFi acquisition

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Dan Blystone

02.06.2026

Robinhood expands into Canada through WonderFi acquisition — Robinhood enters Canada market

Robinhood is entering the Canadian market after closing its $180 million stock acquisition of crypto technology company WonderFi. The deal brings WonderFi's licenses and regulatory approvals under Robinhood and adds local exchanges Bitbuy and Coinsquare to its Canadian operations.

Highlights

Robinhood completed its acquisition of WonderFi, giving it licensed entry into Canada and adding Bitbuy and Coinsquare, as well as 300,000 funded customers.
WonderFi's Bitbuy and Coinsquare generated $49.8 million in combined 2025 revenue, with acquisition terms set at 36 Canadian cents per share.
Canada's crypto market generated $263 million in revenue in 2025 and is projected by Grand View Research to surpass $1 billion by 2033, offering Robinhood strong growth potential.

Acquisition gives Robinhood licensed market entry

As reported by Cointelegraph, Robinhood said on Monday that the completed acquisition formally establishes its presence in Canada through WonderFi's existing regulated crypto business. The transaction places Bitbuy and Coinsquare, two of Canada's larger crypto exchanges, under Robinhood's banner and keeps WonderFi's employees, including its leadership team, as part of the combined business.

Robinhood also expects to gain about 300,000 funded customers through the takeover. Johann Kerbrat, general manager of Robinhood Crypto and International, said in a statement that WonderFi's experience operating regulated platforms for both beginner and advanced users makes it a suitable partner for accelerating Robinhood's mission in Canada.

WonderFi disclosed in March that Bitbuy and Coinsquare generated combined revenue of $49.8 million in 2025. Robinhood and WonderFi first entered into their agreement last May at 36 Canadian cents per common share, or $0.26, while WonderFi's stock has traded between 34 and 36 Canadian cents over the last month, according to Google Finance.

Canada adds growth exposure for Robinhood's crypto business

Canada offers Robinhood exposure to a growing crypto market. Crypto payments company Triple A estimates that about 4.1% of Canadians own crypto, while Grand View Research estimates the Canadian crypto market generated roughly $263 million in revenue in 2025, driven by hardware, and says the country is the fastest-growing regional market in North America.

Grand View Research projects total Canadian crypto market revenue will exceed $1 billion by 2033. For Robinhood, the expansion adds an international growth channel as the company continues to build out its digital asset business, which it entered in the U.S. in February 2018.

The Canada move comes alongside other recent initiatives at Robinhood. In April, the company was selected to serve as brokerage and initial trustee for Trump Accounts, a tax-advantaged investment account program for children, and in February it launched an Ethereum layer-2 network on testnet with plans for a mainnet launch later this year.

Our earlier HOOD price analysis reviewed Robinhood’s volatile trading as the stock pulled back on profit-taking and technical resistance, despite signs of improving user engagement from platform incentives. It also flagged key recent catalysts in the background, including the WonderFi acquisition and other product initiatives that could influence sentiment and near-term price dynamics.

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