Robinhood buys WonderFi for $180M, gains Bitbuy and Coinsquare

Robinhood completed a $180 million stock acquisition of Canadian crypto firm WonderFi on Monday, bringing exchanges Bitbuy and Coinsquare under its control and entering the Canadian market with about 300,000 funded customers.

The transaction transfers WonderFi’s Canadian regulatory approvals and licenses to Robinhood. The deal was structured as a stock purchase at C$0.36 per common share; WonderFi’s stock has traded around C$0.34–C$0.36 in recent weeks.

WonderFi disclosed that Bitbuy and Coinsquare generated combined revenue of $49.8 million in 2025. Robinhood expects to onboard roughly 300,000 funded customers from the acquired platforms.

Johann Kerbrat, general manager of Robinhood Crypto and International, described WonderFi as having “extensive experience operating regulated crypto platforms that serve beginner and advanced crypto users alike, making it an ideal partner to accelerate Robinhood’s mission in Canada.”

Robinhood noted that WonderFi’s leadership and employees will remain with the business after closing, and that the acquisition gives the firm access to local infrastructure and licenses that allow serving retail and institutional customers in Canada.

Market estimates put crypto ownership in Canada at about 4.1 percent of the population. An analytics firm estimated Canadian crypto market revenue at roughly $263 million in 2025, driven by hardware sales, and projected regional revenue could exceed $1 billion by 2033.

Robinhood entered U.S. crypto trading in February 2018. The company launched an Ethereum layer-2 testnet in February and processed 4 million transactions in the first week of public testnet activity, according to Chief Executive Vlad Tenev. Robinhood has a previously announced $1.5 billion share buyback program for 2026.

Robinhood has not provided a timeline for integrating Bitbuy and Coinsquare into its app or for when Robinhood-branded services will be available to Canadian users.