Robinhood to Acquire Canadian Crypto Firm WonderFi in CA$250M All-Cash Deal

Robinhood Markets Inc. (NASDAQ: HOOD), the popular online stock trading platform, is making a bold move to expand its international crypto footprint with the acquisition of Canadian digital asset firm WonderFi Technologies Inc. in a CA$250 million (US$179 million) all-cash deal.

The acquisition gives Robinhood a major foothold in the Canadian crypto market through WonderFi’s regulated trading platforms, BitBuy and Coinsquare, two of the largest in the country with a combined CA$2.1 billion in assets under custody. The transaction values WonderFi shares at CA$0.36 each, marking a 41% premium over the May 12 closing price on the Toronto Stock Exchange and a 71% premium over the stock’s 30-day volume-weighted average.

“This acquisition is an exciting step forward for Robinhood’s crypto expansion strategy,” said Johann Kerbrat, SVP and GM of Robinhood Crypto. “WonderFi has built a formidable family of brands that serve both new and experienced crypto users, making them an ideal partner as we scale our mission in Canada.”

Founded in 2021, WonderFi has quickly become a key player in Canada’s regulated crypto space. With BitBuy and Coinsquare offering tailored services to a wide spectrum of users, the company has carved out a significant slice of the market. The acquisition aligns with Robinhood’s recent push to diversify globally and deepen its cryptocurrency offerings.

Robinhood Crypto began rolling out crypto trading to U.S. users in 2018 and now supports over 30 digital assets, including Bitcoin and Ethereum. The firm has doubled down on its crypto ambitions in recent years, completing a $200 million acquisition of Bitstamp Ltd. in 2024, gaining access to more than 50 regulatory licenses and registrations worldwide.

Robinhood established its Canadian headquarters in Toronto in 2024, which will now serve as the operational base for its expanded crypto activities in the region. WonderFi’s current leadership team is expected to remain onboard post-acquisition, and the company’s platforms will continue to operate under the Robinhood umbrella.

The deal is expected to close in the second half of 2025, pending shareholder and regulatory approval. If successful, it will mark a significant milestone in Robinhood’s evolution from a U.S.-focused trading app into a global fintech powerhouse with serious crypto ambitions.

Terry Jones
UCW Newswire