Robinhood Markets has finalized its acquisition of WonderFi, a prominent Canadian provider of digital asset products and services. This move signifies the U.S. trading platform’s official debut in Canada and propels its total international funded customer base beyond one million for the first time, according to a company announcement on June 1, 2026.
Canadian Operations Under New Ownership
WonderFi operates two of Canada’s longest-established regulated cryptocurrency platforms, Bitbuy and Coinsquare. Both will now operate under the Robinhood brand. Approximately 300,000 funded customers currently using these platforms will transition directly into Robinhood’s ecosystem. This represents one of the most significant immediate user acquisitions for a crypto-focused platform through a merger or acquisition in recent times.
Benefits for Canadian Users
The acquisition by Robinhood is expected to bring tangible improvements in cost and user experience for Canadian customers. Under the new structure, users will be prompted to download the Robinhood app, gaining access to a flat trading fee of 0.5% per Canadian dollar trade. Robinhood describes this pricing model as being lower than prevailing market rates. Additionally, users will benefit from Robinhood’s familiar consumer interface and its globally scaled platform infrastructure.
WonderFi’s existing institutional relationships in Canada will be preserved under Robinhood’s ownership. The company stated it will continue to cultivate these partnerships, alongside the institutional business already established through its acquisition of the European exchange Bitstamp in 2023.
Johann Kerbrat, SVP and General Manager of Robinhood Crypto and International, commented in the announcement that WonderFi’s extensive experience in operating regulated crypto platforms, catering to both novice and experienced users, made it an ideal partner to accelerate Robinhood’s expansion in Canada.
Strategic Global Expansion
While this is not Robinhood’s first international venture, it is among its most comprehensive in terms of structural integration. Instead of building a Canadian regulatory presence from the ground up, Robinhood has acquired two established, licensed platforms with existing user bases, compliance frameworks, and institutional connections. This approach offers a significantly faster route to establishing a meaningful market presence compared to organic growth.
Robinhood established its Canadian headquarters in Toronto in 2024 as an engineering hub. This facility now operates alongside more than 240 employees in the country. Combined with the WonderFi staff, this gives Robinhood a substantial operational footprint in Canada from its inception.
This development marks a critical juncture in the consolidation phase of the nascent cryptocurrency sector in North America. Robinhood’s entry into Canada through a regulated acquisition, rather than a less defined expansion, mirrors a broader trend of established financial platforms acquiring regulated local infrastructure. This institutional playbook is also reshaping cryptocurrency exchange ownership in South Korea and Europe, as companies opt for integration over navigating regulatory uncertainties.
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