Robinhood is entering Canada’s crypto market through a $180 million acquisition of WonderFi, a publicly listed Canadian crypto technology company. The deal gives Robinhood control of Bitbuy and Coinsquare, bringing local licenses, an existing user base, and established revenue streams under its umbrella. The article values the transaction at about C$240 million.
Bitbuy and Coinsquare give Robinhood an instant foothold
According to WonderFi’s March financial disclosure cited in the source material, Bitbuy and Coinsquare generated a combined $49.8 million in revenue in 2025. The two platforms also contributed roughly 300,000 active funded users. That makes the acquisition more than a simple market entry deal; it gives Robinhood operating infrastructure and customer relationships already in place.
The agreement was signed in May of last year, with a price of C$0.36 per share, or about $0.26. WonderFi trades under the ticker TSE: WNDR. The source says the stock moved in a C$34 to C$36 range over the past month, reflecting a cautious market view on integration progress. Nearly all WonderFi employees and the management team are staying on, which could reduce friction during the transition.
Why Canada fits Robinhood’s next crypto move
The market case is supported by several figures in the source. Triple A estimates that about 4.1% of Canadians hold cryptocurrency. Grand View Research says Canada is the fastest-growing regional crypto market in North America, with revenue reaching $263 million in 2025 and projected to exceed $1 billion by 2033.
The article points to three practical reasons Robinhood chose Canada. One is the relative clarity of the country’s regulatory setup, where WonderFi’s platforms already operate with compliance foundations in place. Another is user behavior: crypto ownership and participation in U.S. stock trading create overlap that suits a combined stocks-and-crypto offering. The third is scale. Canada is large enough to matter, yet not as difficult as the U.S. from a regulatory standpoint and not exposed to the same policy transition described in Europe under MiCA.
Acquisition adds to a broader crypto expansion plan
The source places the WonderFi purchase within Robinhood’s wider crypto timeline. Robinhood entered the U.S. crypto trading market in February 2018 with Bitcoin, Ethereum, and two other assets. It then launched a self-developed Ethereum Layer 2 testnet in February 2026, with 4 million transactions processed in the first week. In May 2026, the company announced a $1.5 billion share buyback program, and in June 2026 it completed the WonderFi acquisition.
Read together, those steps show a strategy built around geography, product depth, and user expansion. The Canada deal speaks most clearly to the first of those goals, giving Robinhood a second national base in North America through acquisition rather than a gradual buildout.
Attention now shifts to post-deal execution
The source flags several items for market watchers after the takeover. They include whether WNDR can hold its recent trading range, how many Bitbuy and Coinsquare users move onto Robinhood’s platform, whether Canadian crypto regulation changes after Robinhood’s arrival, and when Robinhood’s Layer 2 mainnet launches and how much adoption it sees.
The article also notes that WonderFi’s CEO was kidnapped in 2024, a sign that parts of Canada’s crypto industry still face gaps even as the market matures. For Robinhood, the immediate result is clear: Canada has become a key piece of its North American crypto expansion.