Robinhood acquires WonderFi for $250M CAD, marking its crypto-focused entry into Canada with future FinTech expansion potential.
Robinhood, the American trading giant best known for disrupting the U.S. investment landscape, is making its first major move into the Canadian market. The company is acquiring Toronto-based WonderFi in a $250-million CAD all-cash deal, aiming to build a firm foothold in Canada’s crypto sector.
Pending regulatory and shareholder approvals, the deal is expected to close in the second half of 2025 and marks a pivotal moment in the evolution of Canada’s digital finance ecosystem.
A Strategic Acquisition with Long-Term Goals
WonderFi’s full team of 115 employees will join Robinhood Crypto and continue operating its existing services, including Bitbuy and Coinsquare—two of Canada’s most prominent regulated crypto exchanges. This integration is designed not only to maintain current services but also to accelerate innovation and market expansion.
“This acquisition is a foundation to slowly expand,” said WonderFi President & CEO Dean Skurka, who views the partnership as an opportunity to amplify Canada’s role in the global FinTech landscape.
Canada: A Crypto-First Market for Robinhood
While Robinhood currently offers stock trading and financial services in the U.S. and U.K., its presence in Canada has so far been limited to a self-custody crypto wallet. According to Johann Kerbrat, SVP at Robinhood Crypto, the initial focus will remain on crypto, with broader offerings possibly on the horizon.
“No plans are set,” said Kerbrat regarding the full product suite rollout in Canada, “but we do expect to develop our offering here.”
Why WonderFi? Trust, Regulation, and Reach
Kerbrat highlighted WonderFi’s extensive experience in Canadian regulation and its control over two major crypto platforms as key motivators behind the acquisition. Coinsquare’s membership in the Canadian Investment Regulatory Organization (CIRO) was noted as a strong asset.
“Canada has a framework that you can work with,” said Kerbrat, expressing Robinhood’s commitment to regulatory engagement and long-term product viability in the country.
Crypto Before Stocks: A Global Crypto Push
The WonderFi acquisition comes as part of Robinhood’s broader crypto expansion strategy, which also includes its 2024 purchase of Luxembourg-based Bitstamp for $200 million USD. The company is seeking to grow its global crypto presence—especially under the regulatory shifts in the U.S. backed by President Donald Trump.
Analysts believe Robinhood’s push into crypto could significantly increase its valuation, with the WonderFi deal providing a strategic gateway into Canada.
Toronto: The Growing Hub for Robinhood’s Innovation
Since 2024, Robinhood has been building out its Canadian headquarters in Toronto, now employing more than 140 professionals focused on engineering and platform development. The company has multiple open roles in Canada, signaling continued growth, though no formal hiring targets have been disclosed.
WonderFi Customers Can Expect Continuity—For Now
No immediate changes are expected for WonderFi customers. However, improvements and potential brand consolidation could emerge in the coming months. Kerbrat emphasized that current efforts are focused on finalizing the acquisition, with future enhancements to be evaluated collaboratively.
A Win for Canadian FinTech Users
Skurka believes the acquisition will ultimately benefit Canadian FinTech users, positioning the country as a key market for global financial innovation.
“Robinhood has a strong reputation in building customer-first products. Their investment in Canada signals great things ahead for our digital finance space,” he said.
Stay tuned to Maple News Wire for more developments in Canada’s evolving crypto and FinTech landscape.
