American financial service company Robinhood Markets announced that it has closed its acquisition of Canadian cryptocurrency firm WonderFi and will enter the Canadian market.
Currently, WonderFi operates two regulated crypto platforms, Bitbuy and Coinsquare, that will become part of the Robinhood brand.
“WonderFi has extensive experience operating regulated crypto platforms that serve beginner and Advanced crypto users alike, making it an ideal partner to accelerate Robinhood’s mission in Canada,” says Johann Kerbat, SVP, General Manager of Robinhood Crypto & International. “We’re pleased to have closed our acquisition and look forward to delivering innovative, user-centric investing products to Canadian customers.”
Robinhood says its expansion into Canada supports its vision of building what it describes as “the leading integrated global financial ecosystem.” The acquisition of WonderFi adds 300,0000 funded customers to Robinhood, bringing its total international funded customer base to one million.
WonderFi’s employees join more than 240 Robinhood employees who are based in Canada. Robinhood established its Canadian headquarters in Toronto two years ago as an engineering hub.
Source: Robinhood
Image Credit: Robinhood
