Robinhood Acquires Canadian Crypto Platform WonderFi

US online broker Robinhood has bought Canadian cryptocurrency platform WonderFi, which operates two licensed crypto exchanges, Bitbuy and Coinsquare.

The deal is valued at C$250 million and is part of the company’s global strategy to strengthen its position in the digital asset industry. Following the completion of the deal, expected in the second half of 2025, WonderFi will continue to operate under its own brand. The platform’s team will join the Robinhood Crypto structure, strengthening the company’s presence in international markets.

Bitbuy and Coinsquare already have over $2.1 billion in turnover and their customer base has access to all services – trading, storage and staking of crypto assets. The purchase is another step for Robinhood to expand its crypto business beyond the US.

Earlier, in the summer of 2024, the company agreed to acquire one of the oldest European crypto exchanges, Bitstamp, for $200 million, which allowed it to strengthen its position in the UK and other EU countries. Now, with the help of WonderFi, the broker expects to strengthen its presence in Canada, a key region for crypto technologies, where the interest of both retail and institutional investors is growing.

Let us remind you that Robinhood is developing a blockchain infrastructure for trading American securities in Europe.