Robinhood secured final regulatory approval for its $180 million acquisition of Canadian crypto firm WonderFi.
Robinhood's CA$250 million (approximately $180 million) acquisition of Canadian crypto firm WonderFi has received its final regulatory approval, clearing the path for the deal to close on June 1. Canada's Investment Regulatory Organization (CIRO) granted approval on May 20 for WonderFi's subsidiary Coinsquare Capital Markets. WonderFi confirmed the development in a press release on Monday.
The CIRO sign-off was the last outstanding approval required for the transaction to proceed. Both companies have now set June 1 as the expected closing date. The deal had originally been targeted for the second half of 2025 but was extended to allow Robinhood time to complete regulatory requirements and deploy its proprietary technology in Canada.
WonderFi is a Toronto-based digital asset platform that operates several regulated crypto brands in Canada, including Bitbuy, Coinsquare, and Bitcoin(dot)ca. The CIRO approval specifically covers Coinsquare Capital Markets, one of WonderFi's core regulated subsidiaries. The company's portfolio of licensed platforms gives Robinhood an established entry point into the Canadian market without building local infrastructure from scratch.
The deal received shareholder backing at a special meeting in July 2025. A final court order from the Supreme Court of British Columbia followed four days after that vote, completing the judicial review stage of the arrangement. Regulatory sign-offs from CIRO then remained the final step before close.
Robinhood announced the WonderFi acquisition in May 2025 as part of its push into international crypto markets. Analysts at the time estimated the deal could lift Robinhood's revenue by as much as 10%. The US retail trading platform is listed on Nasdaq and has been expanding its crypto product suite across multiple markets in parallel with the WonderFi process.
The acquisition adds regulated infrastructure across Canada's crypto sector to Robinhood's existing operations. WonderFi's brands collectively cover retail crypto trading, custody, and exchange services under Canadian regulatory oversight. The addition positions Robinhood to serve Canadian users through platforms that already hold the necessary licenses and have established customer bases.
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