Robinhood’s move into Canada now has a concrete operating base after the company closed its $180 million stock acquisition of WonderFi, bringing regulated local crypto exchanges Bitbuy and Coinsquare under its control. The deal gives Robinhood licenses, regulatory approvals and an immediate Canadian customer footprint rather than forcing it to build market access from scratch. The strategic value is speed into a regulated market, because WonderFi already sits inside Canada’s crypto infrastructure with teams, users and brands that Robinhood can fold into a broader international expansion plan.
WonderFi’s assets bring more than a headline acquisition price. Bitbuy and Coinsquare are among Canada’s largest crypto exchanges, and the two platforms generated combined revenue of $49.8 million in 2025. Robinhood also expects to gain about 300,000 funded customers from WonderFi, while the acquired company’s employees and leadership team will remain in place. The deal gives Robinhood local continuity as well as ownership, which matters in a market where regulatory permissions and user trust can be harder to replicate than technology.
The Canadian opportunity is not enormous yet, but it is moving. Crypto payments company Triple A estimated that roughly 4.1% of Canadians own crypto, while another cited market estimate put Canadian crypto revenue around $263 million in 2025. The same forecast described Canada as North America’s fastest-growing regional market and projected total revenue above $1 billion by 2033. That growth profile explains the timing, especially as Robinhood looks beyond its U.S. crypto launch history and seeks new geography while digital asset participation remains uneven but expanding.
The transaction also fits Robinhood’s wider crypto agenda. The company first entered U.S. crypto trading in February 2018, and has since pushed deeper into blockchain infrastructure, including an Ethereum layer-2 testnet launched in February with plans for a mainnet later this year. CEO Vlad Tenev said that network processed 4 million transactions in its first week of public testnet activity. Canada now becomes a distribution bridge for that larger strategy, linking regulated exchanges, funded users and future blockchain products under one umbrella. The open question is whether Robinhood can convert WonderFi’s local presence into stronger adoption without losing the regulated discipline that made the acquisition attractive in the first place, especially as Canadian competition responds swiftly to the new owner.
