Robinhood completes WonderFi acquisition for C$250M to enter Canadian crypto market

Robinhood Markets acquired WonderFi Technologies for C$250 million, gaining access to Canada's regulated crypto market through the June 1 closing.

"Robinhood indirectly acquired all of the issued and outstanding common shares for C$0.36 in cash per share," WonderFi said in a statement, noting the deal was completed under a statutory plan of arrangement under the Business Corporations Act (British Columbia).

The C$250 million equity value acquisition gives Robinhood control of WonderFi's Canadian crypto businesses, including Bitbuy, Coinsquare and Bitcoin.ca. The deal, first announced in May 2025 and approved by WonderFi shareholders in July 2025, received clearance from the Canadian Investment Regulatory Organization before closing. Robinhood reported $134 million in crypto revenue for the first quarter of 2026, down 47 percent from $252 million a year earlier, as retail crypto trading activity weakened with Bitcoin trading near $74,000.

The acquisition positions Robinhood to compete directly with established Canadian crypto platforms through a regulatory-compliant infrastructure, rather than building from scratch. WonderFi's platforms bring an existing user base and compliance framework that satisfies Canadian securities laws, a structure Robinhood can use as a template for further international expansion. The company has also received in-principle approval to set up a brokerage business in Singapore and is pursuing MiCA licenses to offer crypto services across the European Economic Area.

This article is for informational purposes only and does not constitute investment advice.