Webull, Robinhood Launch Crypto Trading in Canada
SkimNews Take
When two competing platforms launch the same crypto product within days of each other, retail access stops being an investor decision and becomes a competitive baseline — exactly the normalization that suitability advocates struggle to counter.
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- Webull Canada announced on June 30 it would offer cryptocurrency trading after receiving approval from the Canadian Investment Regulatory Organization (CIRO).
- Robinhood Markets officially launched its app in Canada on July 1 following its purchase of crypto platform WonderFi, with the Canadian version initially limited to crypto trading only.
- Robinhood earned US$901-million in cryptocurrency transaction income in 2025, a 44-per-cent year-over-year increase that accounted for more than a third of the company's transaction-based revenue.
- Robinhood saw its crypto transaction income slump 47 per cent in Q1 2026 versus the same period a year earlier, reflecting the volatility of the underlying market.
- Wealthsimple has offered crypto trading since 2020, and Canadians can also access 76 Canadian-listed crypto-asset ETFs holding a combined $5.6-billion in assets under management, according to TD Securities data.
- FAIR Canada executive director Jean-Paul Bureaud warned that expanding access to 'highly complicated products' without suitability restrictions risks harming investors who lack the knowledge to manage such assets.
- Osler, Hoskin & Harcourt partner Matthew Burgoyne said the U.S. has 'leapfrogged' Canada in crypto adoption and regulation, and that the proposed U.S. Clarity Act could pressure Canadian regulators to revise their own framework.
Why it matters: Robinhood's crypto revenue surged 44 per cent to US$901-million in 2025 — more than a third of its transaction-based income — giving the company a direct financial stake in onboarding Canadian users to crypto, while FAIR Canada argues the same drive for volume leaves retail investors exposed to products they lack the expertise to evaluate.
