Robinhood completes WonderFi acquisition for $180 million, ventures into the Canadian crypto market

BlockBeats News, June 2nd, Robinhood Markets announced that it has completed the acquisition of Canadian digital asset service company WonderFi for $180 million, officially entering the Canadian crypto market.

WonderFi operates Bitbuy and Coinsquare, both regulated Canadian crypto platforms. Following the acquisition, Bitbuy and Coinsquare will be merged into Robinhood, and their respective users will be invited to continue using the Robinhood App.

Robinhood stated that after acquiring WonderFi, its non-U.S. funded accounts have exceeded 1 million, with approximately 300,000 coming from WonderFi. Robinhood will also continue to support WonderFi's collaboration with local Canadian institutions and further expand its institutional business.