Robinhood Expands into Canada with $180M WonderFi Acquisition

Robinhood (NASDAQ: HOOD) has officially entered the Canadian crypto market through a $180 million acquisition of WonderFi Technologies, gaining control of two of Canada’s largest regulated crypto exchanges, Bitbuy and Coinsquare. This move not only secures Robinhood’s foothold in Canada but also aligns with its broader global expansion strategy for 2026.

According to WonderFi, its exchanges generated a combined revenue of $49.8 million in 2025, offering Robinhood access to approximately 300,000 funded accounts. The acquisition also brings WonderFi’s licenses and regulatory approvals under Robinhood’s umbrella, allowing the U.S.-based trading giant to operate seamlessly in Canada’s regulated crypto market.

“WonderFi has extensive experience operating regulated crypto platforms that serve beginner and advanced crypto users alike,” said Johann Kerbrat, general manager of Robinhood Crypto and International, in a statement. He emphasized that the acquisition will accelerate Robinhood’s mission to expand internationally.

Why Canada?

Canada represents a strategic market for Robinhood’s growth ambitions. Crypto ownership among Canadians stands at 4.1%, according to analytics firm Triple A, and the country’s crypto market generated $263 million in revenue in 2025. Projections suggest that figure could surpass $1 billion by 2033, driven by rapid adoption and infrastructure growth. Additionally, Canada is the fastest-growing crypto market in North America, making it a logical target for Robinhood’s international push.

The acquisition comes as part of Robinhood’s broader 2026 roadmap to become a “#1 global financial ecosystem,” blending brokerage, crypto services, banking, and AI-driven tools. The company has been aggressively expanding internationally, with notable moves like its entry into 30 EU countries in 2025 and securing approval to launch a brokerage in Singapore earlier this year.

Market Implications

The WonderFi deal positions Robinhood to compete with Canadian incumbents like Wealthsimple, while its global strategy could set the stage for more cross-border offerings, such as tokenized equities and perpetual futures. The timing also coincides with Robinhood’s increasing focus on crypto products, highlighted by its rollout of an Ethereum Layer 2 testnet earlier in 2026, which processed 4 million transactions in its first week.

For traders, the integration of Bitbuy and Coinsquare into Robinhood’s ecosystem could mean easier access to Canadian markets and potentially lower fees. With the addition of WonderFi’s customer base, Robinhood may also boost its total funded accounts, a key metric for growth.

Next Steps

Robinhood confirmed that WonderFi’s employees, including its leadership team, will remain with the company to ensure a smooth transition. Meanwhile, WonderFi’s stock has been trading at 34–36 Canadian cents over the past month, close to the acquisition price of 36 cents per share.

As Robinhood continues its international push, traders should watch for updates on how the company integrates its new Canadian operations and whether it leverages this acquisition to launch new crypto services. With Canada’s crypto market expected to grow rapidly, this could be a pivotal move in Robinhood’s quest for global dominance.

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