Robinhood has officially entered Canada after completing its $180 million acquisition of crypto technology firm WonderFi, giving the trading platform immediate access to one of North America's fastest-growing digital asset markets.

The acquisition brings Canadian crypto exchanges Bitbuy and Coinsquare under Robinhood's control, along with the regulatory licenses, approvals and infrastructure needed to operate in the country. Rather than navigating Canada's regulatory process from the ground up, Robinhood has effectively acquired an established crypto ecosystem and a ready-made customer base.

Instant Access to Canada's Crypto Market

The deal gives Robinhood ownership of two of Canada's largest crypto exchanges. WonderFi disclosed earlier this year that Bitbuy and Coinsquare generated a combined $49.8 million in revenue during 2025, highlighting the scale of the business now falling under Robinhood's umbrella.

Johann Kerbrat, general manager of Robinhood Crypto and International, said WonderFi's experience operating regulated crypto platforms made it a natural fit for the company's expansion strategy.

Robinhood also expects to gain approximately 300,000 funded customers through the acquisition, while retaining WonderFi's existing leadership team and employees.

The move reflects growing competition among global crypto platforms seeking access to regulated international markets, particularly those with established retail adoption and clearer compliance frameworks.

Betting on Canada's Growing Crypto Adoption

Canada has emerged as an increasingly attractive destination for crypto firms despite being smaller than the US market.

According to payments company Triple A, roughly 4.1% of Canadians currently own crypto. Research firm Grand View Research estimated that Canada's crypto industry generated approximately $263 million in revenue during 2025 and described the country as the fastest-growing regional crypto market in North America.

The firm projects the market could surpass $1 billion in annual revenue by 2033.

Robinhood's Canadian expansion also forms part of a broader push deeper into digital assets. Since entering crypto trading in 2018, the company has steadily expanded its blockchain ambitions beyond simple brokerage services.

Earlier this year, Robinhood launched an Ethereum layer-2 network on testnet, with CEO Vlad Tenev saying the network processed more than 4 million transactions during its first week of public activity. The company was also selected in April to serve as brokerage and initial trustee for the newly announced Trump Accounts program.

For Robinhood, the WonderFi acquisition is more than an entry into a new geography. It is another step in the company's effort to transform itself from a stock trading platform into a larger global player in the crypto industry.