Robinhood just got the green light to buy its way into Canada’s crypto market. The Canadian Investment Regulatory Organization (CIRO) granted final regulatory approval on May 20 for Robinhood’s all-cash acquisition of WonderFi Technologies, a deal worth approximately C$250 million, or roughly $180 million.
The transaction is expected to close on or about June 1, 2026. When it does, Robinhood will inherit two of Canada’s longest-running regulated crypto platforms, along with a user base that took years to build.
What Robinhood is actually buying
WonderFi operates Bitbuy and Coinsquare, two platforms that between them hold over C$2.1 billion in assets under custody and serve more than 1.6 million registered users.
The deal was first announced on May 13, 2025. Shareholder approval followed on July 17, 2025, with court approval landing four days later on July 21. The CIRO sign-off was the last major regulatory hurdle, and clearing it means the path to closing is now essentially unobstructed.