Robinhood (NASDAQ: HOOD) announced the acquisition of WonderFi (TSX: WNDR, OTCQB: WONDF) in 2025, and today that deal has closed, marking an expansion into the Canadian market. This is emblematic of Robinhood’s global expansion strategy. Robinhood paid about USD $180 million for the platform in an all-cash deal.
WonderFi, based in Toronto, is one of the largest Canadian crypto exchanges, with around C$2.1 billion in assets under custody. Robinhood receives two key brands, Bitbuy and Coinsquare, two regulated crypto platforms, while adding approximately 300,000 customers.
Wonderfi customers will transition to the Robinhood platform over time. First accessing crypto and then, at a later date, equities and other assets.
Robinhood operates in four main markets, including the US, UK, and the European Union. Each of these markets offers both crypto and tokenized shares as well as ETFs and derivatives.
Speaking on CNBC, Robinhood CEO Vlad Tenev noted that June 1st was the largest volume day for equity trading, thus indicative of the convergence of crypto marketplaces and more traditional brokerage services.
