Robinhood gets Canadian regulator nod for WonderFi acquisition

Robinhood Markets is set to close the WonderFi acquisition deal after Coinsquare Capital Markets, a WonderFi subsidiary, received approval from the Canadian Investment Regulatory Organization (CIRO) in connection with the proposed transaction.

The approval was granted on May 20 and announced by WonderFi on May 25. The sign-off was the last piece of regulatory paperwork standing between announcement and execution.

Robinhood and WonderFi expect the deal to close on or about June 1, 2026, subject to the satisfaction of customary closing conditions.

Robinhood to add Bitbuy and Coinsquare through WonderFi deal

First announced in May 2025, the acquisition targets expanding Robinhood Crypto’s presence in Canada. WonderFi holds more than C$2.1 billion in assets under custody across its products and services.

The Toronto-based company owns Bitbuy and Coinsquare, two regulated crypto platforms that together form one of the largest digital asset ecosystems in Canada.

The arrangement was approved by WonderFi securityholders at a special meeting held on July 17, 2025, and the Company obtained a final order from the Supreme Court of British Columbia on July 21, 2025.

For Robinhood, which trades on the Nasdaq under the ticker HOOD, the acquisition is a deliberate geographic bet. Robinhood is buying an already-regulated, already-operating set of businesses that hold the licenses and relationships it would take years to build from scratch.

After the acquisition closes, WonderFi’s products will continue operating under Robinhood Crypto, while the company’s leadership team and staff will join Robinhood’s Canadian business.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.