Robinhood opens new Canadian HQ in Toronto as Canada becomes a “priority” market
Article excerpt
With its WonderFi acquisition complete, American trading platform Robinhood Markets is expanding its presence in Canada as it opens a new Canadian headquarters in downtown Toronto. Robinhood announced the office on Wednesday, saying it views Canada as one of its “priority markets” and wants to expand its presence in the country, both in cryptocurrency and beyond. “We really want to bring more products to Canada.” In an interview with BetaKit, Robinhood senior vice-president and general manager of crypto, Johann Kerbrat, said the company aims to demonstrate its “long-term investment and [its] commitment” to Canada with the space, which integrates multiple teams under the same roof. Kerbrat described Canada as a “priority” market for the brokerage, which also offers stock trading and other financial services and tools in the United States (US) and United Kingdom, but not Canada. He said Robinhood is “excited to keep building on top of” its initial Canadian crypto offering as it looks to roll out broader trading services over time and bring more competition to the Canadian market. “We really want to bring more products to Canada,” Kerbrat said. “We started with cryptocurrency because we saw that the market was ready to be disrupted with lower fees and better features, but the goal for us is to increase the type of products available at Robinhood Canada by adding more types of...
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But since then, WonderFi president and CEO Dean Skurka has left , and Robinhood has shed 10 percent of its overall workforce.
