Robinhood Markets has finalized its acquisition of Toronto-based WonderFi, a leading Canadian digital asset services firm, in a deal valued at $180 million. The acquisition, originally announced in May 2025 with a $250 million price tag, closed after regulatory approvals and technology deployment by Robinhood in Canada. WonderFi operates the regulated crypto platforms Bitbuy and Coinsquare, which will now be integrated into the Robinhood ecosystem, with existing users invited to migrate to the Robinhood app.
The move marks Robinhood's official entry into the Canadian crypto market and significantly expands its international footprint. Robinhood now counts over 1 million funded customers outside the U.S., including 300,000 from WonderFi. Johann Kerbrat, SVP and General Manager of Robinhood Crypto & International, emphasized that WonderFi's expertise in regulated crypto platforms makes it an ideal partner for accelerating Robinhood's Canadian mission. Robinhood will also maintain WonderFi's local institutional partnerships, building on its institutional business started with the Bitstamp acquisition.
Robinhood CEO Vlad Tenev highlighted the closure as a milestone in the company's global ambitions, while the firm simultaneously reinforced its presence with over 240 employees already based in a Toronto headquarters established in 2024. Despite the strategic progress, Robinhood's stock (HOOD) fell 3.8% on the announcement day, closing at $90.73 and bringing year-to-date losses to 21.3%. The acquisition aligns with Robinhood's broader push into international markets and its recent innovations like agentic trading, though the focus here remains firmly on cementing its Canadian crypto operations.
