Robinhood lands in Canada with WonderFi buy, inheriting Bitbuy, Coinsquare and C$2.1 billion AUM

Robinhood has completed its acquisition of WonderFi, gaining ownership of Bitbuy and Coinsquare, two of Canada’s longest-running regulated crypto platforms, and adding approximately 300,000 funded customers to its international base.

The transaction closed on June 1 after WonderFi secured the final regulatory approval required from the Canadian Investment Regulatory Organization (CIRO).

Through the acquisition, Robinhood gains access to WonderFi’s established crypto ecosystem, including regulated trading platforms Bitbuy and Coinsquare, while expanding its international funded customer base beyond one million accounts.

Robinhood secures regulated entry into Canada

The acquisition provides Robinhood with an established regulatory framework and customer network in Canada, allowing the company to accelerate its expansion without building a local crypto infrastructure from the ground up.

WonderFi operates Bitbuy and Coinsquare, two of Canada’s longest-running regulated cryptocurrency platforms.

According to the company, the platforms collectively manage more than C$2.1 billion in assets under custody.

Robinhood said Canadian customers will gradually gain access to its trading platform, which will offer a flat 0.5% fee per Canadian dollar crypto trade alongside the company’s global technology infrastructure and user interface.

“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.”

Johann Kerbrat, Senior Vice President and General Manager of Robinhood Crypto & International.

The acquisition also brings approximately 300,000 funded WonderFi customers into Robinhood’s ecosystem, strengthening the firm’s international presence and customer reach.

Bitbuy and Coinsquare to join the Robinhood brand

As part of the integration process, Bitbuy and Coinsquare will become part of the Robinhood brand, creating a unified platform for Canadian crypto users.

Robinhood stated that it will continue supporting WonderFi’s institutional client relationships while leveraging capabilities developed through its broader crypto operations.

WonderFi employees are also expected to join Robinhood’s Canadian workforce, adding expertise in regulatory compliance and digital asset operations.

“We’re pleased to have closed our acquisition and look forward to delivering innovative, user-centric investing products to Canadian customers.” – Kerbrat said.

The integration aligns with Robinhood’s broader strategy of building a global financial ecosystem that combines retail investing, digital assets, and international market expansion.

According to the company, its international funded customer base now exceeds one million accounts following the completion of the deal.

Regulatory approval clears final hurdle

The acquisition’s completion followed approval from CIRO, which represented the final regulatory requirement for the transaction.

WonderFi previously confirmed that its subsidiary, Coinsquare Capital Markets Ltd., received regulatory approval connected to the arrangement. The approval removed the last remaining obstacle to closing the transaction.

The successful completion highlights the increasing importance of regulatory compliance in crypto mergers and acquisitions, particularly in jurisdictions such as Canada where digital asset businesses operate under established oversight frameworks.

For Robinhood, the transaction offers an immediate presence in one of North America’s most mature regulated crypto markets.

For WonderFi, it marks the next stage in the evolution of a company that built some of Canada’s most recognized cryptocurrency trading platforms.

What the deal means for crypto investors

The acquisition reflects a broader trend of consolidation across the digital asset industry, where established financial technology firms are increasingly pursuing acquisitions to expand market access, customer bases, and regulatory capabilities.

By combining Robinhood’s global reach with WonderFi’s regulated Canadian operations, the company positions itself to compete more aggressively in the country’s growing cryptocurrency sector.

Lower trading fees, expanded platform access, and deeper institutional capabilities could increase competition among crypto service providers operating in Canada.

For investors, the transaction signals continued confidence in regulated crypto infrastructure as firms seek scalable growth opportunities amid rising demand for digital asset services.

As Robinhood integrates WonderFi’s operations and customer base, market participants will be watching closely to assess how the combined platform reshapes Canada’s crypto trading landscape.