CIRO approves Robinhood acquisition

The Canadian Investment Regulatory Organization (CIRO) has approved a change in control for crypto platform, Coinsquare Capital Markets Ltd. The move comes as its parent company, WonderFi Technologies Inc., is acquired by Robinhood Markets, Inc.

Just over a year ago, Robinhood announced a deal to acquire WonderFi — which also operates the Bitbuy platform alongside Coinsquare — for approximately $250 million in cash.

Shareholders approved the deal in July last year, and the transaction was originally expected to close in the second half of 2025, but the firms pushed back the initial deadline for closing a couple of times to give the companies more time to secure regulatory approval, among other things.

On Friday, CIRO said that it has approved the transaction, effective May 20.

Last month, the Supreme Court of British Columbia granted relief, extending the deadline for WonderFi to hold its annual meeting to July 2, in light of the pending deal with Robinhood.

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.