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Robinhood Markets closed its acquisition of Toronto-listed WonderFi Technologies on Monday, taking direct control of Canada's two longest-running regulated crypto platforms, Bitbuy and Coinsquare, and entering the Canadian market without building a single line of new product code.
The all-cash deal values WonderFi at C$0.36 per share, or roughly C$250 million on a fully diluted basis — about $180 million at the May 2025 announcement exchange rate. With the close, Robinhood says its international customer base crosses 1 million for the first time, up roughly 300,000 from the WonderFi books alone. WonderFi shares are slated to be de-listed from the Toronto Stock Exchange on or about the close of trading on June 2.
The transaction is the second leg of Robinhood's M&A-led push outside the United States, after its $200 million Bitstamp acquisition closed in 2025 brought it institutional crypto and a European footprint. The Canada move skips the organic-build playbook competitors such as Coinbase ran in the country, and lands Robinhood directly in retail competition with Wealthsimple and Questrade.
