Robinhood completes $180 million acquisition of WonderFi, with the stock dropping by more than 3% instead of rising

Robinhood Markets announced on June 1 that it has officially completed its acquisition of WonderFi, a digital asset services company headquartered in Toronto, for $180 million. WonderFi operates regulated crypto platforms in Canada, Bitbuy and Coinsquare. On the same day, shares of Robinhood (HOOD) fell 3.8%, closing at $90.73.

WonderFi Integration Business Details

Johann Kerbrat, Senior Vice President and General Manager of Robinhood Crypto & International, said: “WonderFi has extensive experience operating regulated crypto platforms serving both entry-level and advanced crypto users, making it an ideal partner to accelerate Robinhood’s development in Canada.”

Robinhood said in its announcement that it will continue to support WonderFi’s collaboration with local institutions to further expand its institutional business—this business was established after Robinhood’s acquisition of Bitstamp last year.

Acquisition Timeline and Regulatory Background

The deal was first announced in May 2025 as part of Robinhood’s strategy to enter international crypto markets. The transaction was originally planned to be completed in the second half of 2025, but both parties extended the deadline so that Robinhood could deploy its proprietary technology in Canada and complete the regulatory approval process.

FAQ

How will users of Bitbuy and Coinsquare be affected after the acquisition?

According to the announcement, existing users of Bitbuy and Coinsquare will be invited to continue using the Robinhood app; WonderFi will be integrated into Robinhood and will continue to maintain partnerships with Canadian local institutions.

Why was the acquisition pushed back from the second half of 2025 to completion in 2026?

According to reports, the transaction was delayed because Robinhood needed time to deploy its proprietary technology in Canada and complete the regulatory approval process.

How will this acquisition affect the size of Robinhood’s customer base outside the United States?

Robinhood said that through the acquisition of WonderFi, its total number of funded customers outside has exceeded 1 million, with WonderFi contributing 300,000 customers.