Robinhood Acquires WonderFi, Enters Canada

Robinhood has finalized its acquisition of WonderFi, a significant move that signals the trading platform's official entry into the Canadian market. The deal brings WonderFi's established digital asset operations, including regulated platforms Bitbuy and Coinsquare, under the Robinhood umbrella.

This strategic acquisition is designed to bolster Robinhood's position in the global financial ecosystem, as stated in the company's announcement. By integrating WonderFi, Robinhood aims to offer its innovative crypto products to Canadian users.

Johann Kerbrat, SVP, General Manager of Robinhood Crypto & International, highlighted WonderFi's expertise in operating regulated crypto platforms, calling it an ideal partner for Robinhood's Canadian expansion. The company anticipates delivering a new standard of financial products to the Canadian market.

Canadian customers will soon gain access to the Robinhood app, which promises lower fees, with a flat 0.5% fee per CAD trade, and Robinhood's user-friendly interface. The integration aims to leverage Robinhood's global infrastructure while supporting existing institutional relationships within the Canadian crypto market.

With this acquisition, Robinhood's international funded customer base surpasses 1 million, including approximately 300,000 customers from WonderFi. The company also noted that over 240 Robinhood employees are now based in Canada, where it established its engineering hub in Toronto in 2024.

This expansion supports Robinhood's broader vision for financial ecosystem expansion globally.