Robinhood Expands into Canada
Robinhood, the well-known trading platform, has officially expanded its operations into Canada through the acquisition of WonderFi, a local cryptocurrency technology firm, for $180 million. This strategic move allows Robinhood to assimilate WonderFi’s regulatory licenses, paving the way for its entry into the Canadian market.
Acquisition Details
As part of this acquisition, Robinhood will also take control of two significant cryptocurrency exchanges in Canada: Bitbuy and Coinsquare. These platforms rank among the largest in the country, with WonderFi reporting a combined revenue of $49.8 million for these exchanges in 2025.
Johann Kerbrat, the general manager of Robinhood Crypto and International, expressed optimism about this venture, highlighting WonderFi’s expertise in managing regulated crypto platforms that cater to both novice and experienced users. He views this acquisition as a crucial opportunity to further Robinhood’s ambitions in Canada.
Market Insights
In Canada, cryptocurrency ownership stands at about 4.1%, according to estimates from crypto payment provider Triple A. The local cryptocurrency sector saw revenues of approximately $263 million in 2025, fueled primarily by hardware sales, reports Grand View Research. This firm posits that Canada is the fastest-growing cryptocurrency market in North America, forecasting that revenues could exceed $1 billion by 2033.
Future Prospects
As part of the acquisition, WonderFi’s workforce, including its leadership team, will remain with the company. Additionally, Robinhood expects to onboard around 300,000 funded customers from WonderFi’s existing user base. The relationship between Robinhood and WonderFi was initiated back in May, with shares priced at 36 Canadian cents each. Currently, WonderFi’s shares appear to be fluctuating between 34 and 36 cents, as observed on Google Finance.
Robinhood originally launched its cryptocurrency trading features in February 2018, and it has continued to innovate within the sector. Recently, the company announced plans to act as the brokerage and initial trustee for Trump Accounts, a tax-advantaged investment initiative for children. Furthermore, they are working on an Ethereum layer-2 network that is currently in its public testnet phase, having successfully processed 4 million transactions in its first week of operation.
Conclusion
Overall, this acquisition represents a significant expansion for Robinhood into international markets and highlights the growing potential of the cryptocurrency landscape in Canada.
