C$2.1B AUC plus C$3.6B 2024 volume across Bitbuy/Coinsquare makes WonderFi more valuable as regulated distribution than as a standalone Canadian exchange. HOOD’s Q1 app crypto volume was down 48% YoY to $24B, while Bitstamp added $42B off-app volume; Canada gives them another licensed venue to route product through when retail beta cools. Stack that with Bitstamp’s 50+ licenses and Robinhood Chain on Arbitrum, and the playbook is pretty clear: buy compliant rails first, then push tokenized stocks, staking, and RWA flows through the jurisdictions that will actually let them ship.

Top comment by @Benthic