Robinhood completes WonderFi acquisition, gains Canadian crypto foothold

Robinhood completed its acquisition of WonderFi on Monday after the Canadian digital asset firm secured the necessary approval from the Canadian Investment Regulatory Organization (CIRO). The deal gives Robinhood an established foothold in Canada and lets it offer regulated crypto products to customers nationwide. It also pushes the company's international funded customer base beyond 1 million, including roughly 300,000 funded customers from WonderFi.

Robinhood will keep serving WonderFi's institutional clients, complementing the institutional capabilities it has developed through Bitstamp. WonderFi employees will join Robinhood's Canadian operations. Since opening its Toronto headquarters in 2024, Robinhood has made investments in Canada as a key engineering and technology hub.

Johann Kerbrat, SVP and General Manager of Robinhood Crypto & International, said WonderFi's track record serving a broad range of crypto investors makes it a valuable addition to Robinhood's expanding international business. "We're pleased to have closed our acquisition and look forward to delivering innovative, user-centric investing products to Canadian customers," Kerbrat said.

WonderFi manages more than C$2.1 billion in assets under custody and operates Bitbuy and Coinsquare, two regulated crypto platforms that rank among Canada's largest digital asset businesses. Following the transaction's completion, Bitbuy and Coinsquare will become part of the Robinhood brand. Canadian users will be invited to access the Robinhood app, with a flat 0.5% fee per CAD trade—an actual fixed number, which in crypto almost feels novel.