Robinhood Acquires WonderFi for $179M in Bold Move Into Canadian Crypto Market

What to Know

• Robinhood acquires Canadian crypto firm WonderFi for $178.98 million in an all-cash deal.
• WonderFi’s ownership of Bitbuy and Coinsquare strengthens Robinhood’s position in Canada.
• The move signals Robinhood’s growing commitment to global crypto market expansion.

Robinhood Targets Global Growth With Strategic Canadian Entry

Robinhood Markets, the U.S.-based trading platform known for revolutionizing commission-free investing, has made a major move into international crypto markets. The company has officially announced its acquisition of WonderFi Technologies, a Canadian cryptocurrency company, in a $178.98 million deal.

This all-cash purchase will allow Robinhood to establish a foothold in Canada by leveraging WonderFi’s existing platforms and user base. The acquisition values WonderFi shares at 36 Canadian cents each—marking a 41% premium over their previous closing price—underscoring Robinhood’s aggressive stance in expanding its crypto operations globally.

WonderFi’s Crypto Brands Boost Robinhood’s Canadian Presence

WonderFi owns and operates two of Canada’s most established crypto trading platforms: Bitbuy and Coinsquare. Both platforms are well-known in the Canadian market for offering secure and compliant crypto trading services to retail and institutional investors alike.

In fiscal 2024, WonderFi reported trading volume growth of 28%, with total volume reaching CAD 3.57 billion. These platforms give Robinhood immediate access to a mature and regulated crypto user base in Canada, significantly speeding up its entry into a new, high-potential market.

With this acquisition, Robinhood is poised to challenge local crypto providers such as Wealthsimple Crypto and international heavyweights like Coinbase, which already have a presence in the country.

Why Canada?

Robinhood’s expansion into Canada is no coincidence. Canada has been recognized as a crypto-friendly nation with a solid regulatory framework and a growing population of crypto investors. By acquiring WonderFi, Robinhood avoids the need to build infrastructure from scratch, allowing it to hit the ground running with two turnkey platforms already operating in the region.

This also aligns with Robinhood’s broader global strategy to grow its crypto division, especially as regulatory uncertainty in the United States continues to create headwinds for crypto businesses.

Robinhood’s Vision for Global Crypto Dominance

The WonderFi deal comes after Robinhood’s previous announcement about its intention to acquire Bitstamp, another major crypto exchange based in Europe. These back-to-back acquisitions are clear indicators that Robinhood is pivoting towards an aggressive international crypto strategy.

The company’s crypto division has gained momentum in recent years, and these latest moves suggest that Robinhood aims to become a dominant global player in the digital asset space. Adding Bitbuy and Coinsquare to its ecosystem gives Robinhood broader geographical diversity and access to more institutional trading capabilities.

Crypto M&A Activity Accelerates in 2025

Robinhood’s move is part of a wider trend of increased merger and acquisition activity in the cryptocurrency sector in 2025. Industry players are seizing opportunities to expand, consolidate, and position themselves ahead of anticipated mainstream adoption.

Recent developments like the $2.9 billion acquisition of crypto options platform Deribit by Coinbase highlight a surge in institutional confidence in digital assets. Meanwhile, supportive political shifts—such as growing crypto-friendliness among global leaders—have reignited enthusiasm in the industry.

In this context, Robinhood’s acquisition of WonderFi positions it to capitalize on growing demand for regulated, easy-to-use crypto trading solutions outside the United States.

What This Means for Canadian Crypto Investors

For Canadian users, the deal could result in better access to global markets, improved trading tools, and enhanced platform features as Robinhood integrates its technology and resources into Bitbuy and Coinsquare. While the platforms are expected to maintain local compliance standards, users may also benefit from Robinhood’s sleek app interface and broad asset offerings.

As the deal progresses, investors and traders in Canada can anticipate a more competitive crypto landscape, with Robinhood likely to roll out promotions or new services to gain market share.

Looking Ahead

Robinhood’s acquisition of WonderFi marks a pivotal chapter in its evolution from a U.S.-centric investing app into a global crypto powerhouse. By securing a regulated and active customer base in Canada, the company sets the stage for deeper international expansion, enhanced product offerings, and a stronger position in the ever-evolving digital asset ecosystem.

With crypto adoption rising worldwide and regulatory clarity improving in several regions, Robinhood’s bold acquisition strategy could set the tone for the next wave of global crypto integration.