Robinhood Markets has received Canadian regulatory approval to complete its USD 250 million acquisition of WonderFi Technologies.
The deal, valued at USD 250 million, is expected to close by 1 June 2026.
WonderFi operates several regulated crypto trading platforms in Canada, including Bitbuy, Coinsquare, and Bitcoin.ca. Upon completion, the acquisition will give Robinhood access to an established, regulated crypto infrastructure in the Canadian market, a significant step in the company's broader international expansion strategy.
Timeline and strategic context
Robinhood announced its intention to acquire WonderFi in May 2025. WonderFi shareholders voted in favour of the transaction at a special meeting held in July 2025, as the approval represents the last outstanding condition ahead of closing.
The deal forms part of Robinhood's efforts to grow its crypto business beyond the US. Analysts have suggested the acquisition could contribute approximately 10% to Robinhood's annual revenue, though such projections carry uncertainty. Over recent years, Robinhood expanded its crypto offering to include commission-free trading, digital wallets, and staking products, and has pursued a series of acquisitions as part of its international growth strategy.
Market pressures weigh on crypto segment
The regulatory clearance comes at a challenging period for Robinhood's cryptocurrency division. The company reported USD 134 million in crypto revenue for the first quarter of 2026, a decline of 47% compared to USD 252 million in the same period of 2025. The drop reflects a broader slowdown in retail crypto trading activity, linked in part to Bitcoin trading below USD 80.000.
The WonderFi acquisition positions Robinhood within a regulated framework in Canada, where crypto trading platforms are subject to oversight by CIRO. Operating through licensed entities such as Bitbuy and Coinsquare may support Robinhood's ability to serve Canadian retail investors within a compliant structure, as regulatory scrutiny of crypto platforms continues across North American markets.
