Robinhood’s C$250 million acquisition of WonderFi has cleared its final regulatory step after CIRO approved the change of control involving Coinsquare Capital Markets Ltd. The deal gives Robinhood access to WonderFi’s regulated Canadian crypto platforms, including Bitbuy and Coinsquare, and is expected to close around June 1, 2026.
Canadian regulators have approved Robinhood’s planned acquisition of WonderFi, moving the C$250 million all-cash deal closer to completion. The approval clears the final regulatory step for the transaction, which the companies expect to close on or about June 1, 2026.
The Canadian Investment Regulatory Organization approved the change of control involving Coinsquare Capital Markets Ltd., WonderFi’s regulated subsidiary. CIRO said the approval became effective on May 20, 2026, while WonderFi announced the update on May 25.
CIRO Approval Clears Final Deal Step
CIRO approved the change of control that allows Robinhood Markets to acquire all issued and outstanding common shares of WonderFi Technologies. WonderFi owns Coinsquare Capital Markets Ltd., which holds the CIRO investment dealer registration.
This detail matters for the transaction. The approval applies to Coinsquare Capital Markets Ltd., not only to the WonderFi parent company. The regulator’s decision allows Robinhood to take control of the regulated entity within WonderFi’s business.
WonderFi said no further regulatory approvals remain for the arrangement. However, the deal still depends on normal closing conditions. The companies expect the transaction to close on or about June 1, 2026.
Securityholders had already approved the arrangement at a special meeting on July 17, 2025. The Supreme Court of British Columbia then issued a final order approving the plan on July 21, 2025.
Robinhood Adds Bitbuy and Coinsquare
Robinhood agreed to pay C$0.36 for each WonderFi common share in cash. The offer values WonderFi at about C$250 million, or nearly US$179 million. The price represented a 41% premium to WonderFi’s prior TSX closing price when the deal was announced.
WonderFi operates Bitbuy and Coinsquare, two long-running regulated crypto trading platforms in Canada. The company also offers services linked to crypto trading, staking, and custody through its platform brands.
WonderFi said its platforms hold more than C$2.1 billion in assets under custody. That gives Robinhood a direct route into Canada’s regulated crypto market through existing businesses, teams, and licenses.
WonderFi CEO Dean Skurka described the deal as aligned with the company’s purpose. “WonderFi and Robinhood are united in our visions of making crypto accessible,” he said in Robinhood’s earlier deal announcement
Johann Kerbrat, senior vice president and general manager of Robinhood Crypto, also pointed to WonderFi’s brand mix. “WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike,” he said.
Deal Expected to Close June 1
The transaction had previously faced a longer closing path than the companies first expected. The parties later moved the closing timeline to June 1, 2026, while Robinhood worked through Canadian regulatory approvals and prepared its technology rollout.
The acquisition also follows Robinhood’s wider push into crypto services outside its core U.S. market. The company has already expanded through other crypto deals, including its purchase of Bitstamp.
WonderFi shares rose after the CIRO approval update, with market reports showing a gain of about 5.9% on May 25. Since the offer price is fixed at C$0.36 per share, trading near that level mainly reflects investor expectations around closing.
After the deal closes, Bitbuy and Coinsquare are expected to continue operating under Robinhood’s ownership. No customer account disruption has been announced. The existing regulatory structure around Coinsquare Capital Markets Ltd. also remains central to the Canadian business.
With CIRO approval now secured, the Robinhood-WonderFi deal has passed its key regulatory, court and securityholder approval stages. The remaining steps now focus on closing mechanics before Robinhood formally takes ownership of WonderFi.
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