Robinhood secures approval for WonderFi acquisition

Robinhood gained final approval to acquire WonderFi for C$250M, expanding into Canada’s regulated crypto market. The deal, including Bitbuy and Coinsquare, is expected to close by June 2026.

Robinhood has received final approval from the Canadian Investment Regulatory Organization (CIRO) to acquire WonderFi, a Toronto-based operator of regulated crypto platforms including Bitbuy, Coinsquare, and Bitcoin.ca. The all-cash deal, valued at C$250 million (approximately $180 million), is expected to close on or about June 1, 2026, pending shareholder and court approvals in 2025. Regulatory clearance was specifically granted to WonderFi’s subsidiary, Coinsquare Capital Markets Ltd., fulfilling the last major condition for the transaction. This acquisition enables Robinhood to expand its crypto footprint in Canada by integrating WonderFi’s established, compliance-focused trading brands and regulated digital asset services. Structured as a statutory plan of arrangement under British Columbia’s Business Corporations Act, the deal is anticipated to enhance Robinhood’s access to millions of Canadian crypto accounts and could potentially boost its revenue by up to 10%.