Market News

Robinhood Expands into Canada by Acquiring Major Crypto Platform WonderFi

Robinhood Markets has officially completed the acquisition of WonderFi, Canada’s leading crypto platform, which brings 300,000 new customers into its ecosystem.

With this strategic move, Robinhood not only marks its entrance into the Canadian market but also surpasses one million funded international customers for the first time.

WonderFi operates well-known regulated platforms, Bitbuy and Coinsquare, both now under the Robinhood brand.

The acquisition enables Canadian users to benefit from a new trading model with a flat 0.5% fee per CAD trade, touted as lower than market rates.

Current partnerships within WonderFi’s institutional relationships will be maintained, enhancing Robinhood’s existing presence through its European exchange, Bitstamp.

SVP Johann Kerbrat expressed confidence that WonderFi's expertise will accelerate Robinhood's mission central to the Canadian market.

By acquiring established platforms, Robinhood has sidestepped the complexities of creating a regulatory presence from scratch.

This approach not only fast-tracks Robinhood's market penetration but also reflects a broader move towards consolidation among crypto exchanges in North America.

The Toronto headquarters, established in 2024, bolsters Robinhood’s operational capacity with over 240 employees, significantly expanding its Canadian footprint.

As Robinhood enters Canada through this regulated acquisition, it aligns itself with global trends of established financial entities securing local infrastructure in the evolving crypto landscape.