Robinhood Enters Canada as it Completes Acquisition of WonderFi

Robinhood Markets, Inc. has completed its acquisition of WonderFi, a Canadian provider of regulated digital asset products and services, the company announced. The deal gives Robinhood its first direct presence in Canada through WonderFi’s two established crypto platforms, Bitbuy and Coinsquare.

With the acquisition, Robinhood now serves over 1 million international funded customers, including roughly 300,000 funded accounts contributed by WonderFi. The move supports Robinhood’s broader goal of building a global financial ecosystem, adding to its existing international operations.

Canadian users will be invited to download the Robinhood app and access trading with a flat 0.5% fee per Canadian dollar trade. Robinhood says its platform offers a “best-in-class” user interface and experience backed by its globally scaled infrastructure.

Johann Kerbrat, SVP and General Manager of Robinhood Crypto & International, called WonderFi an ideal partner because of its experience operating regulated platforms for both beginner and advanced crypto users. “We’re pleased to have closed our acquisition and look forward to delivering innovative, user-centric investing products to Canadian customers,” he said in a statement.

Robinhood will also maintain WonderFi’s existing institutional relationships, building on the global institutional business it established through its earlier acquisition of Bitstamp. WonderFi employees will join more than 240 Robinhood employees already based in Canada. Robinhood opened its Canadian headquarters in Toronto in 2024 as an engineering hub, tapping local tech talent.