Robinhood, Webull Launch Crypto Trading in Canada
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- Webull Canada announced on June 30 it would offer cryptocurrency trading after receiving approval from the Canadian Investment Regulatory Organization.
- Robinhood Markets officially launched its trading app in Canada on July 1 after completing its purchase of Canadian crypto platform WonderFi, with the Canadian app initially limited to crypto-only trading.
- Robinhood earned US$901-million in cryptocurrency transaction income in 2025 — a 44% year-over-year increase accounting for more than a third of its transaction-based revenue — while Q1 2026 crypto income slumped 47% year-over-year amid market volatility.
- FAIR Canada executive director Jean-Paul Bureaud warned that increasingly complex products are becoming "easily accessible to investors for whom they are unsuitable," questioning whether consumer demand equals consumer suitability.
- Wealthsimple has offered crypto trading since 2020, and 76 Canadian-listed crypto-asset ETFs hold a combined $5.6-billion in assets under management, per TD Securities data.
- Osler, Hoskin & Harcourt partner Matthew Burgoyne said the U.S. has "leapfrogged" Canada in crypto regulation, noting the proposed U.S. Clarity Act could pressure Canadian regulators to revise policies to stay competitive.
Why it matters: Robinhood's crypto unit generated US$901-million in 2025 — a third of its transaction revenue — giving the company strong motivation to expand into Canada. But with Bitcoin down roughly 50% from its highs and Robinhood's Q1 2026 crypto revenue falling 47%, Canadians drawn in by the "mainstream" branding face heightened volatility without the suitability safeguards FAIR Canada argues are needed.
