Robinhood secures approval in Canada to purchase WonderFi.

• Robinhood expands its presence in the Canadian cryptocurrency market.
• WonderFi controls Bitbuy and Coinsquare in Canada.
• WonderFi's acquisition receives Canadian regulatory approval.

Robinhood Markets has received a major regulatory green light in Canada to complete its acquisition of WonderFi, the company that owns the Bitbuy and Coinsquare platforms. This step was confirmed after Coinsquare Capital Markets, a WonderFi subsidiary, obtained approval from the Canada Investment Regulatory Organisation (CIRO) for the proposed transaction.

The authorization was granted on May 20th and The document was publicly released by WonderFi on May 25th. It was the last pending regulatory requirement before the final conclusion of the agreement between the companies.

According to the companies, the expectation is to finalize the acquisition around June 1, 2026, provided that all customary closing conditions are met.

The acquisition of WonderFi is part of Robinhood's strategy to expand its presence in the Canadian cryptocurrency market. The Toronto-based company manages over C$2,1 billion in assets under custody through its crypto-related products and services.

Furthermore, WonderFi controls two of the country's best-known regulated platforms: Bitbuy and Coinsquare. Together, they form one of Canada's largest digital asset ecosystems, offering cryptocurrency trading to local investors.

The agreement was originally announced in May 2025 and received approval from WonderFi shareholders during a special meeting held on July 17 of that year. A few days later, on July 21, 2025, the company also obtained final authorization from the Supreme Court of British Columbia.

For Robinhood, listed on Nasdaq under the ticker HOOD, the acquisition represents a strategic expansion into a regulated and already established market. Instead of building a Canadian operation from scratch, the company chose to acquire companies that already have licenses, operational structure, and relationships with local regulatory bodies.

Following the completion of the acquisition, WonderFi products will continue to operate under the Robinhood Crypto brand. The leadership team and employees of the Canadian company will also integrate into Robinhood's local operations in Canada.