Robinhood has completed its acquisition of WonderFi Technologies, giving the US trading platform a larger regulated crypto presence in Canada.
WonderFi said Robinhood acquired all issued and outstanding shares for C$0.36 in cash per share. The deal values the Canadian digital asset firm at about C$250 million on a fully diluted basis.
The transaction closes a process that was first announced on May 13, 2025. WonderFi shareholders approved the deal at a special meeting on July 17, 2025, and the Supreme Court of British Columbia granted a final order for the arrangement on July 21, 2025.
WonderFi’s shares are expected to be delisted from the Toronto Stock Exchange around the close of trading on June 2, 2026. The company is also expected to apply to stop being a reporting issuer under Canadian securities laws.
The deal gives Robinhood control of WonderFi’s crypto brands, including Bitbuy, Coinsquare and Bitcoin.ca. WonderFi describes its platforms as regulated trading venues serving crypto users through trading, payments, decentralized products, purpose-built blockchains and non-custodial wallet applications.
“WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike, making them an ideal partner to accelerate Robinhood’s mission in Canada,” Johann Kerbrat, senior vice president and general manager of Robinhood Crypto, said when the deal was announced. “We look forward to partnering with the WonderFi team to deliver innovative, user-centric crypto products to Canadian customers.”
The acquisition marks another step in Robinhood’s effort to expand beyond its core US retail brokerage business.
Robinhood established a Canadian headquarters in Toronto in 2024 as an infrastructure engineering hub. WonderFi employees are expected to join Robinhood’s Canadian workforce, which had more than 140 staff in the country at the time the transaction was announced.
The acquisition also follows Robinhood’s broader push into crypto through deals.
Robinhood struck a $200 million deal to buy crypto exchange Bitstamp in 2024. The WonderFi deal adds Canadian-regulated trading infrastructure to that wider international strategy.
The timing is notable because Robinhood’s crypto revenue has become more volatile.
In the first quarter of 2026, Robinhood reported total net revenue of $1.07 billion, up 15% year over year. But cryptocurrency revenue fell 47% year over year to $134 million, as per the company’s quarterly results.
That makes the WonderFi deal more than a geographic expansion.
It gives Robinhood a larger base in a regulated market at a time when crypto trading revenue can swing sharply with market cycles. WonderFi processed more than C$3.57 billion in crypto trading volume in fiscal 2024, up 28% from the previous year, Reuters reported.
The acquisition may also help Robinhood compete with other large crypto platforms that have been using acquisitions to broaden product lines and regulatory coverage.
The crypto sector saw a wave of larger deals in 2025, including Coinbase’s $2.9 billion purchase of Deribit and Ripple’s $1.25 billion acquisition of Hidden Road.
The transaction enables deeper integration between WonderFi’s local brands and Robinhood’s consumer trading infrastructure.
It provides Robinhood a regulated route into a market where crypto platforms must navigate formal registration, compliance and investor protection requirements. WonderFi said on May 25 that Coinsquare Capital Markets Ltd., a wholly owned subsidiary, had received approval from the Canadian Investment Regulatory Organization for the acquisition. After that approval, no further regulatory approvals were required for the arrangement.
The deal also removes WonderFi from public markets.
Once the TSX delisting and reporting issuer process are completed, WonderFi will become part of Robinhood’s crypto business.
The strategic question now is how quickly Robinhood can convert WonderFi’s regulated Canadian base into new products.
Robinhood’s challenge will be integration. It will need to combine WonderFi’s platforms, brands and compliance structure without disrupting users on Bitbuy, Coinsquare and related services.
The opportunity is clear.
Robinhood is using acquisitions to build a larger international crypto business. WonderFi gives it a Canadian foothold with existing brands, regulated infrastructure and operating history in digital assets
The above article “Robinhood Adds Bitbuy, Coinsquare and Bitcoin.ca in $180M WonderFi Acquisition” was first published on AlexaBlockchain. Read the complete article here: https://alexablockchain.com/robinhood-wonderfi-acquisition/
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