Robinhood has closed its roughly C$250 million (about $180 million) cash acquisition of WonderFi, officially stepping into Canada’s crypto market for the first time. The deal also pushes Robinhood above 1 million funded customers outside the United States, underscoring how central international growth has become to its strategy.
Robinhood Enters Canada Through WonderFi
By buying WonderFi, Robinhood gains a Canadian digital asset group that already runs under local securities rules. WonderFi operates regulated platforms, including Bitbuy and Coinsquare, which give Robinhood immediate access to a large base of Canadian crypto users and established banking and compliance relationships. Together, they turn Canada from a future target into a live market on day one.
WonderFi brings roughly $2.6 billion in trailing 12-month crypto trading volume and about $580 million in crypto assets under custody. That flow and balance sheet let Robinhood plug straight into an active retail market instead of starting cold with a new app and no local brand. At the same time, WonderFi’s technology stack and operations team give Robinhood in-house expertise on Canada’s specific market structure.
Johann Kerbrat, senior vice president and general manager of Robinhood Crypto and International, described WonderFi as “an ideal partner to accelerate Robinhood’s mission in Canada.” He said the company has strong experience running regulated crypto platforms for both new and experienced users.
The exec also added, “We’re pleased to have closed our acquisition and look forward to delivering innovative, user-centric investing products to Canadian customers.”
The comments frame the deal as both a regulatory shortcut and a means of inheriting an existing community.
What Changes For Users And Robinhood’s Growth Plan
Robinhood plans to gradually invite WonderFi customers onto the Robinhood app while keeping the regulated Canadian platforms running in the background. Canadian users are expected to see Robinhood’s familiar interface and pricing, while the legal entities of Bitbuy and Coinsquare continue to handle compliance. This setup lets Robinhood offer a single front end while preserving local safeguards that regulators already approved.
Cross-border expansion has become a key theme for Robinhood as competition in U.S. stock and options trading grows. Passing 1 million funded international accounts shows that markets like Canada are now meaningful drivers of user growth, not test outposts. The WonderFi deal adds another regulated jurisdiction to that push and deepens Robinhood’s crypto presence at a time when global retail interest remains strong.
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