TLDR
- CIRO approved Coinsquare, clearing Robinhood’s WonderFi purchase for a planned June 1, 2026 closing date.
- WonderFi brings Bitbuy, Coinsquare, and Bitcoin.ca into Robinhood Crypto’s planned Canadian digital asset business operations.
- The C$250 million deal gives Robinhood access to regulated crypto platforms and local customer relationships.
- WonderFi shareholders approved the arrangement in July 2025, and a British Columbia court followed soon.
- Both companies extended the timeline while Robinhood prepared technology and completed the required regulatory steps.
Robinhood Markets has moved closer to closing its WonderFi acquisition after a key Canadian approval. The Canadian Investment Regulatory Organization approved Coinsquare Capital Markets in connection with the proposed deal. Coinsquare operates as a subsidiary of WonderFi.
CIRO Approval Clears Final Deal Step
The approval came on May 20, 2026, and WonderFi announced it on May 25. WonderFi said the clearance was the “last regulatory approval required” for the transaction. The companies now expect closing around June 1, 2026.
Robinhood agreed to buy WonderFi for C$250 million, or about $180 million. The deal gives Robinhood a direct route into Canada’s crypto market. It also brings regulated Canadian platforms under Robinhood Crypto.
The companies said closing remains subject to normal closing conditions. WonderFi used the phrase “on or about June 1, 2026” for the expected date. That leaves room for standard final steps before completion.
WonderFi Brings Bitbuy and Coinsquare to Robinhood
WonderFi is a Toronto-based digital asset company with several crypto brands. It owns Bitbuy, Coinsquare, and Bitcoin.ca. These platforms serve Canadian customers through regulated crypto services.
Bitbuy and Coinsquare are among Canada’s known crypto trading platforms. Together, they help WonderFi manage a broad digital asset base. WonderFi has more than C$2.1 billion in assets under custody.
For Robinhood, the purchase offers an existing base in Canada. It also brings local licenses, teams, and customer links. That approach can be faster than building from the ground up.
Shareholders Backed the Deal in 2025
Robinhood first announced the WonderFi acquisition in May 2025. The deal formed part of its wider plan to grow international crypto services. Canada became a clear target because WonderFi already operated there.
WonderFi securityholders approved the arrangement at a special meeting on July 17, 2025. The company then received a final order from the Supreme Court of British Columbia on July 21. Those steps moved the transaction into its final review stage.
The parties later extended the closing timeline. Robinhood needed more time to prepare its technology for Canada. It also needed to complete the required regulatory process.
After closing, WonderFi’s products will continue under Robinhood Crypto. WonderFi’s leadership and staff will also join Robinhood’s Canadian business. The deal gives Robinhood a larger role in Canada’s regulated crypto market.
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