Robinhood's C$250 million (approximately $180 million) acquisition of Canadian crypto firm WonderFi cleared its final regulatory hurdle after Canada's investment regulator approved the deal.
The Canadian Investment Regulatory Organization granted approval on May 20 for WonderFi's subsidiary Coinsquare Capital Markets. CIRO’s nod marked the last sign-off required with both companies now targeting a June 1 close, WonderFi said in a press releaseon on Monday.
WonderFi is a Toronto-based digital asset platform that owns regulated crypto brands including Bitbuy, Coinsquare, and Bitcoin.ca.
The deal had originally been expected to close in the second half of 2025, but both parties extended the deadline to give Robinhood time to deploy its proprietary technology in Canada and to complete regulatory approvals.
WonderFi shareholders approved the arrangement at a special meeting in July 2025, with a final court order from the Supreme Court of British Columbia following four days later.
Robinhood, the U.S. retail trading platform listed on Nasdaq, announced the WonderFi acquisition in May 2025 as part of its broader push into international crypto markets. Analysts at the time said the deal could lift Robinhood's revenue by as much as 10%.
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