Robinhood expands into Canada with acquisition of WonderFi

An electronic screen at Nasdaq displays Robinhood in New York's Times Square following the company's IPO, Thursday, July 29, 2021. (AP Photo/Mark Lennihan, File)

TORONTO — Robinhood Markets Inc. has expanded into the Canadian market with the closing of its acquisition of cryptocurrency firm WonderFi.

WonderFi’s regulated crypto platforms, Bitbuy and Coinsquare, will become part of the Robinhood brand and Canadian customers will invited to download the Robinhood trading app.

Johann Kerbrat, general manager of Robinhood Crypto & International, says WonderFi has extensive experience operating regulated crypto platforms that serve beginner and advanced users alike.

The acquisition brings Robinhood’s international funded customer base to one million, an increase of 300,000.

WonderFi employees are to join the 240 Robinhood workers already in Canada.

Robinhood established a Canadian headquarters in Toronto in 2024 as an engineering hub.