The companies are putting off closing the $250-million deal because some of the technology Robinhood wants to deploy in Canada needs additional work and regulatory approval, Toronto crypto firm WonderFi said in a release. WonderFi spokesperson Charlie Aikenhead did not provide additional details on what the technology is and what approvals are necessary, but said in an email that the company is working with Robinhood to develop it “expeditiously.” (The Logic)

Talking point: The deal with U.S. online stock trading giant Robinhood has the potential to reshape the Canadian crypto industry and introduce a major new competitor to Toronto’s Wealthsimple—assuming it closes. The run-up to the deal saw WonderFi mired in internal turmoil, as the firm drew interest from multiple other companies, including Toronto online brokerage Questrade, The Logic has previously reported. Shareholders ultimately voted to approve the deal, which has also been greenlit by the Competition Bureau and the Supreme Court of British Columbia. When the companies announced the deal in May, they said it was on track to close in the second half of 2025.