Canadian Regulator Approves Robinhood's Purchase Of Wonderfi

(MENAFN- Yolo Wire) Robinhood Markets (NASDAQ: $HOOD) has received Canadian regulatory approval for its planned acquisition of WonderFi Technologies (TSX: $WNDR), allowing the $250 million deal to be completed by June 1.

According to a news release, the Canadian Investment Regulatory Organization has approved the acquisition of WonderFi, clearing the last remaining hurdle related to the deal.

Toronto-based WonderFi operates several crypto businesses in Canada, including Bitbuy, Coinsquare, and Bitcoin.

Once the transaction closes at the start of June, Robinhood will gain access to a regulated crypto trading network that's established within the Canadian marketplace.

Robinhood announced plans to acquire WonderFi in May 2025 as part of its international crypto expansion. Analysts say the deal could add 10% to Robinhood's annual revenue.

Shareholders of WonderFi Technologies voted in favor of the acquisition during a special meeting held in July 2025.

The Canadian approval arrives with Robinhood's cryptocurrency business under pressure from weaker trading activity.

The company reported $134 million U.S. in crypto revenue for this year's first quarter, down 47% from $252 million U.S. a year earlier.

Retail investor participation in crypto trading has weakened in recent months as the price of Bitcoin (CRYPTO: $BTC) languishes below $80,000 U.S.

Robinhood also just announced that its top crypto executive, Tanya Denisova, is leaving the company after five years.

During Denisova's tenure, Robinhood introduced commission-free crypto trading, digital wallets, and staking products.

The company also completed a series of acquisitions, with WonderFi being the latest deal that will help Robinhood grow outside the U.S.

HOOD stock has declined 36% this year to trade at $73.64 U.S. per share.

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