Robinhood has stepped into the Canadian crypto market after closing a $180 million deal to acquire WonderFi, a local digital asset company that already operates regulated exchanges in the country. The move gives Robinhood a quick entry into Canada without the usual process of building everything from scratch.
With this acquisition, two well-known Canadian platforms, Bitbuy and Coinsquare, now fall under Robinhood’s control. Both already have active users and regulatory approval, which makes the expansion much smoother as Robinhood grows beyond the United States.
Rather than going through a long licensing and setup process, Robinhood is plugging into an existing system that already meets Canadian regulatory standards. That includes the necessary approvals, compliance setup, and infrastructure needed to run crypto trading legally.
Bitbuy and Coinsquare will keep operating as they are even after the deal. Together, they brought in about $49.8 million in revenue in 2025, showing that demand for crypto trading in Canada is still steady even when global markets slow down.
Johann Kerbrat, who heads Robinhood’s international crypto division, said WonderFi brings solid experience in running regulated platforms that work for both beginners and advanced users. He added that this will help Robinhood scale faster as it builds its footprint in Canada.
Bitbuy and Coinsquare Robinhood’s Crypto Push
Bitbuy and Coinsquare are among Canada’s largest regulated crypto exchanges, and both platforms will now operate as part of Robinhood’s growing global network. Their inclusion gives Robinhood immediate access to an active user base and established trading infrastructure in the country.
Industry estimates suggest that around 4.1% of Canadians currently own crypto, with the broader market expected to grow steadily over the next decade. Analysts also project that Canada’s crypto sector could exceed $1 billion in revenue by 2033, driven by increased adoption and rising interest in digital assets.
This deal is also expected to bring in roughly 300,000 funded customers from WonderFi’s existing user base, giving Robinhood a strong foundation as it expands its international footprint.
Robinhood’s Global Crypto Strategy Continues to Expand
The Canada move is part of a broader push by Robinhood into digital assets and blockchain-based financial systems. The company has been expanding beyond traditional stock trading into crypto services, payments, and blockchain infrastructure.
Robinhood first entered crypto trading in the United States in 2018 and has since increased its focus on digital asset products. More recently, it was selected to support new investment account programs and has also been testing blockchain technology through its Ethereum-based layer-2 network.
Robinhood reported strong early performance during testnet activity, with millions of transactions processed in its first week, signaling continued interest in building scalable blockchain systems.
Canada Becomes a Key Market in Robinhood’s Expansion Plans
Canada is becoming a more attractive destination for global crypto platforms due to its growing user base and relatively clear regulatory structure compared to some other markets.
With WonderFi now part of its portfolio, Robinhood gains not just market access but also compliance experience that is often difficult for foreign companies to secure quickly. The integration of Bitbuy and Coinsquare gives the company a faster route into a regulated environment where trust and licensing are central to operations.
Robinhood’s entry into Canada shows a continued shift in strategy among major fintech companies, where acquisitions are increasingly used to enter new regions instead of launching entirely new standalone platforms.
As integration begins, the focus will now be on how quickly Robinhood can scale its services across Canada while maintaining compliance with local regulations and competing in a market that is still developing but growing steadily.
