Crypto Exchanges
By Sakamoto Nashi
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What Robinhood Actually Gets From WonderFi. Bitbuy and Coinsquare aren't small names in Canadian crypto.
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Robinhood's 1 Million International Customers and What's Next. With WonderFi folded in, Robinhood says it now serves more than 1 million funded customers outside…
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Fee Structure and Platform Migration. The 0.5% fee on Canadian dollar crypto transactions is the number Canadian users will care about…
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Robinhood closed its acquisition of WonderFi. Done. The deal hands the U.S. brokerage two regulated Canadian crypto exchanges — Bitbuy and Coinsquare — plus roughly 300,000…
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The math here is pretty straightforward. Getting a crypto license in Canada from scratch can take years. Buying a company that already has one takes months.
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It's not Robinhood's first time doing this.
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The WonderFi deal follows the same basic playbook as Robinhood's earlier acquisition of Bitstamp.
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Bitbuy and Coinsquare aren't small names in Canadian crypto. Both exchanges have operated in the country for years and built up real user bases — the kind that took actual…
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The 300,000 customer accounts are the headline number, but what probably matters more internally is the license stack.
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And the customer migration itself won't be instant. No details on timing have been disclosed yet.
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See also: Veda Opens Kraken DeFi Earn Vault Stack to 2,000-Plus Privy Developers
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The broader fintech and crypto industry has been consolidating hard for a couple of years now.
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WonderFi's customer base also skews toward crypto-native users — people who came to Bitbuy or Coinsquare specifically to trade digital assets, not just because it was bundled…
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The Toronto engineering hub angle is worth sitting with for a second. Robinhood already had 240-plus people in Canada before this deal closed.
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No word yet on whether WonderFi's existing leadership stays on post-acquisition. The source didn't specify any executive retention details, and it's not clear whether Bitbuy and…
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