Robinhood Markets has completed its acquisition of WonderFi, a Canadian provider of digital-asset products and services, marking the U.S. brokerage’s formal entry into Canada and pushing its international funded customer base past 1 million for the first time, the company announced on June 1, 2026.
Bitbuy and Coinsquare Rebrand Under Robinhood
WonderFi operates two of Canada’s longest-standing regulated cryptocurrency platforms, Bitbuy and Coinsquare. Both will adopt the Robinhood brand, according to the announcement. Approximately 300,000 funded customers currently on those platforms will transition into Robinhood’s ecosystem, expanding the company’s international user base in a single transaction.
What Changes for Canadian Users
Under the new structure, Canadian customers will be invited to download the Robinhood app. The company said users will have access to a flat 0.5% fee per CAD trade, which it described as below prevailing market rates, along with Robinhood’s consumer interface and global platform infrastructure.
Robinhood stated it will maintain WonderFi’s existing institutional relationships in Canada and continue building on them. The company also plans to leverage the institutional business it has established through Bitstamp, the European exchange Robinhood acquired in 2023, according to the press release. Johann Kerbrat, SVP and General Manager of Robinhood Crypto and International, said WonderFi’s experience operating regulated platforms for both beginner and advanced users was a key factor in the deal.
Accelerating International Expansion
The WonderFi acquisition provides Robinhood with a turnkey Canadian presence by integrating two licensed platforms with existing user bases, compliance frameworks, and institutional ties, offering a faster market entry than building from scratch. Robinhood’s Canadian headquarters in Toronto, established in 2024 as an engineering hub, now sits alongside more than 240 employees in the country. Combined with WonderFi’s staff, the deal gives the company a broad operational footprint in Canada from day one.
Regulatory and Market Context
The move underscores an industry trend in which established financial and trading platforms expand into new jurisdictions by acquiring regulated local infrastructure rather than launching unlicensed services. In North America and other regions, consolidation through regulated acquisitions has become a common route to achieve scale while aligning with local compliance requirements.