Robinhood acquires WonderFi, enters Canada

Robinhood Markets's C$250 million acquisition of Canadian crypto firm WonderFi Technologies has received final regulatory approval from the Canada — Canadian Investment Regulatory Organization. This approval, granted on May 20 for WonderFi Technologies subsidiary Coinsquare Capital Markets, was the last hurdle for the deal, which is now expected to close around June 1, 2026. The acquisition allows Robinhood Markets to enter the Canadian digital asset market with established, regulated platforms like Bitbuy, Coinsquare, and Bitcoin, bypassing the need to build from scratch. This strategic move is part of Robinhood Markets's broader international crypto expansion, aiming to diversify revenue and leverage Canada's developed retail investing market and regulatory framework. WonderFi Technologies shareholders approved the deal in July 2025, followed by a court order from the Canada — British Columbia. The extended timeline for closing allowed Robinhood Markets to deploy its proprietary technology in Canada and complete regulatory processes. The transaction is seen as a significant step for Robinhood Markets to scale its products and user base in a regulated environment, while for WonderFi Technologies shareholders, it represents a substantial premium.