Key Takeaways:

• Robinhood has entered Canada’s crypto market by completing its 250-million-dollar acquisition of WonderFi.
• Bitbuy and Coinsquare users will move to Robinhood and gain access to lower crypto trading fees.
• The deal adds 300,000 Canadian customers and strengthens Robinhood’s international crypto business.

Robinhood Markets, the US-based stocks and crypto trading platform known for helping everyday investors access financial markets, officially entered Canada’s cryptocurrency sector on 1 June 2026, after completing its acquisition of Toronto-based WonderFi Technologies.

The all-cash deal, valued at 250 million Canadian dollars (about $180 million), gives Robinhood an immediate foothold in a regulated market that would have taken years to build on its own.

What Robinhood gets with the deal

WonderFi operates Bitbuy and Coinsquare, two of Canada’s longest-standing regulated crypto exchanges. Together, they held over 2.1 billion CAD in assets under custody at the time of the deal’s announcement in May 2025 and generated 49.8 million CAD in combined revenue in 2025.

Both brands will become part of Robinhood, with existing customers invited to migrate to the Robinhood app in the coming weeks.

The deal adds roughly 300,000 Canadian customers with funded accounts, pushing Robinhood’s total number of funded international accounts past 1 million. WonderFi’s employees, including its leadership team, will stay on and join the 240-plus Robinhood employees already in Canada. Robinhood has operated an engineering headquarters in Toronto since 2024.

The final regulatory clearance for the acquisition came on 20 May 2026, when the Canadian Investment Regulatory Organization, the country’s self-regulatory body for investment dealers, approved WonderFi’s subsidiary Coinsquare Capital Markets to proceed with the transaction.

Learn More: What Is KYC in Crypto?

Lower fees and new competition for Canadian crypto traders

Customers moving to Robinhood will gain access to over 50 cryptocurrencies at a flat 0.5% fee per Canadian-dollar trade. That is significantly lower than the 2% baseline trading fee charged to entry-level clients by Wealthsimple, one of Canada’s leading financial technology platforms. Robinhood also plans to add staking services shortly after launch.

Grand View Research, an analytics company, estimates the Canadian crypto market generated around $263 million in revenue in 2025 and projects it will have surpassed $1 billion by 2033, making Canada the fastest-growing regional crypto market in North America.

WonderFi shares were delisted from the Toronto Stock Exchange after the markets closed on 2 June 2026, a standard step following the company’s acquisition.

Related: Robinhood Launches Its Own Test Blockchain Amid Q4 2025 Revenue Decline

Part of a broader international push

The WonderFi purchase marks Robinhood’s second major international crypto acquisition after its June 2025 purchase of Bitstamp, a European exchange that helped expand its business serving professional traders and large organizations such as investment firms. Robinhood also plans to maintain WonderFi’s existing relationships with Canadian institutions.

The acquisition was first announced on 13 May 2025, with an expected closing date in the second half of that year. The timeline was later extended to allow Robinhood to deploy its technology in Canada and complete the necessary regulatory approvals.

For Canadian users, the immediate impact is straightforward. Existing Bitbuy and Coinsquare customers will transition to Robinhood’s platform and benefit from lower trading fees, while Canadians will gain access to one of the world’s most recognized apps for everyday investors and traders.