Robinhood Enters Canadian Crypto Market with $180M WonderFi Acquisition

Robinhood has officially completed its $180 million acquisition of WonderFi, a digital asset company based in Toronto, allowing it to break into the Canadian cryptocurrency market. With this deal, Robinhood will incorporate WonderFi's regulated platforms, Bitbuy and Coinsquare, giving it access to about 300,000 customer accounts and pushing its international customer total past one million. WonderFi reported close to $50 million in revenue for 2025. The acquisition faced various regulatory hurdles, including getting shareholder approval and necessary endorsements from Canadian regulators. Johann Kerbrat, Robinhood's Senior VP for Crypto and International, praised WonderFi’s knowledge. This acquisition fits into Robinhood's broader plan for global expansion, following its 2025 purchase of Bitstamp and the creation of an Ethereum Layer-2 network. In Q1 2026, Robinhood reported a crypto revenue of $134 million, down from the previous year, while total net revenue for the quarter topped $1 billion.