Robinhood Lands in Canada With Crypto Ambitions

In Brief

• Robinhood has completed its acquisition of WonderFi in Canada.
• The deal adds about 300,000 funded customers to its platform.
• Canada is becoming a key market in Robinhood’s global expansion strategy.

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Trading platform Robinhood has officially entered the Canadian market after completing its acquisition of WonderFi, one of the country’s largest digital asset operators. The deal gives Robinhood access to roughly 300,000 funded customers and brings two of Canada’s best-known crypto platforms under its umbrella. The expansion also pushes Robinhood’s international funded customer count above 1 million as the company continues its global growth strategy.

Robinhood Completes WonderFi Acquisition

As it happens, Robinhood announced on June 2 that it had finalized its acquisition of WonderFi, a Canadian digital asset company that operates the regulated crypto platforms Bitbuy and Coinsquare.

*Announcing the developments. Source: Robinhood*

The transaction marks Robinhood’s formal entry into Canada through an established operator already serving both retail and institutional crypto users. WonderFi has built a significant presence in the country and manages more than C$2 billion in assets under custody across its platforms.

Johann Kerbrat, Senior Vice President and General Manager of Robinhood Crypto & International, said WonderFi’s experience serving beginner and advanced crypto investors makes it an ideal partner for the company’s Canadian ambitions.

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

As part of the integration, Bitbuy and Coinsquare will become part of the Robinhood brand. Canadian users will gradually be invited to use the Robinhood app, which the company says will offer a simplified trading experience and a flat 0.5% fee on CAD-denominated crypto trades.

The acquisition also adds approximately 300,000 funded customers to Robinhood’s international business, helping the company surpass the 1 million international funded customer milestone.

Canada Becomes Robinhood’s Next Growth Market

The move strengthens Robinhood’s efforts to build a wider global financial ecosystem beyond its core U.S. business.

Canada has become an increasingly important market for the company. Robinhood established its Canadian headquarters in Toronto in 2024, primarily as an engineering and technology hub, and already employs more than 240 people in the country.

WonderFi’s workforce will now join Robinhood’s Canadian operations, further expanding its local presence.

The acquisition also enhances Robinhood’s institutional crypto capabilities. WonderFi maintains relationships with a range of Canadian institutions, partnerships Robinhood plans to continue supporting alongside the institutional services it acquired through its earlier purchase of Bitstamp.

With regulatory approval secured and the transaction now complete, Robinhood is positioning itself to compete more aggressively in Canada’s growing digital asset market while expanding its international reach beyond the United States.

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