Overview
- Canada’s investment regulator approved WonderFi subsidiary Coinsquare Capital Markets on Wednesday, May 20, completing the last regulatory condition for the deal and leaving only customary closing steps before a targeted June 1 close.
- When the transaction closes, WonderFi’s regulated platforms — Bitbuy, Coinsquare and Bitcoin.ca — will be folded into Robinhood’s international crypto operations to provide trading and custody services in Canada.
- Robinhood announced the C$250 million acquisition (commonly reported as about $180 million) in May 2025 and WonderFi shareholders and the Supreme Court of British Columbia gave prior approvals in July 2025.
- The purchase comes as Robinhood Crypto reported $134 million in Q1 2026 revenue, a 47% year‑over‑year drop, and the company has experienced recent leadership change with the exit of crypto COO Tanya Denisova.
- Analysts have said the deal could boost Robinhood’s revenue by as much as about 10%, but integration work on technology, licensing and customer migration will determine how quickly the company realizes that benefit.