Robinhood has completed its $180 million acquisition of Canadian crypto firm WonderFi, pushing its total number of funded customers outside the United States past 1 million. The deal brings WonderFi's two regulated platforms — Bitbuy and Coinsquare — under Robinhood's ownership, adding roughly 300,000 funded clients to its international business.
WonderFi Deal Extends Robinhood's Canadian Crypto Reach
Johann Kerbrat, Senior Vice President and General Manager of Robinhood Crypto and International, said WonderFi's track record of serving both newcomers and experienced crypto users aligns with Robinhood's long-term objectives in Canada. Both Bitbuy and Coinsquare operate within Canada's regulated digital asset sector, catering to retail investors across the country.
The acquisition follows Robinhood's purchase of Bitstamp last year, which established its institutional crypto business and boosted international capabilities. The WonderFi deal is another step in building a global footprint beyond the U.S. market.
Crossing the 1 Million Funded Client Mark
Before the acquisition, Robinhood's international funded client base stood at roughly 700,000. The addition of WonderFi's 300,000 users pushed the total over 1 million. Robinhood stressed it will maintain WonderFi's existing institutional partnerships in Canada, opening doors to serve professional clients as well.
Robinhood first announced the WonderFi acquisition in May 2025, originally expecting to close in the second half of that year. The timeline was extended to secure regulatory approvals and deploy Robinhood's proprietary technology in Canada. Shares of Robinhood fell 3.8% on the day of the announcement, closing at $90.73.
Canada as a Strategic Growth Market
Canada offers a clear regulatory framework for crypto, making it a priority for Robinhood's international expansion. Through WonderFi, Robinhood gains established local brands, a ready customer base, and relationships with Canadian institutions. Bitbuy and Coinsquare have built recognizable names in the Canadian crypto industry, allowing Robinhood to scale without starting from scratch.
Moving forward, Robinhood aims to integrate its technology with WonderFi's local expertise to accelerate growth in both retail and institutional segments. The 1 million funded client milestone is just one marker in a broader push to build a global crypto service network spanning the U.S., Europe, and Canada.