Stock and cryptocurrency trading platform Robinhood has officially entered the Canadian market by acquiring local tech firm WonderFi in a $180 million all-stock deal. Through this acquisition, Robinhood has secured the necessary licenses and regulatory approvals in the country, according to Cointelegraph.com reports. .
According to a statement released on Monday, Bitbuy and Coinsquare, considered Canada's largest crypto exchanges, will now operate under the Robinhood brand. WonderFi data indicates that these platforms generated a total revenue of $49.8 million in 2025. Johann Kerbrat, General Manager of Robinhood Crypto, praised WonderFi's experience in managing regulated platforms, calling it an ideal partner to accelerate their mission in Canada.
According to Triple A analysis, approximately 4.1% of Canadians own Bitcoin and other crypto assets. Grand View Research forecasts that the Canadian crypto market is the fastest-growing region in North America, with total revenue expected to exceed $1 billion by 2033. As part of the deal, WonderFi employees and management will remain in place, and Robinhood will add approximately 300,000 new customers.
Robinhood entered the U.S. crypto market in 2018. The company has recently expanded its operations, launching a layer-2 test network on the Ethereum blockchain in February. CEO Vlad Tenev stated that the network processed 4 million transactions in its first week.
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