Robinhood announced a C$250 million (US$178 million) all-cash acquisition of Canadian crypto firm WonderFi, marking a significant expansion of Robinhood’s global crypto footprint.
The deal provides Robinhood access to over C$2.1 billion in assets under custody and strengthens its position in Canada’s rapidly growing crypto market. WonderFi operates two leading regulated platforms, Bitbuy and Coinsquare, which will continue operations under Robinhood Crypto.
WonderFi shareholders will receive C$0.36 per share, a 41% premium over the May 12 closing price and 71% above the 30-day volume-weighted average price. The acquisition is expected to close in the second half of 2025, pending shareholder and regulatory approvals.
WonderFi’s CEO Dean Skurka and leadership will join Robinhood Crypto, and WonderFi employees will integrate with Robinhood’s existing Canadian workforce, currently over 140 staff in Toronto.
Robinhood has been actively expanding its crypto services, acquiring Bitstamp for $200 million in 2024. The WonderFi deal further enables Robinhood to offer Canadian retail investors comprehensive crypto services, including trading, staking, and custody.
WonderFi has 1.6 million users and reported over C$3.57 billion in trading volume in fiscal year 2024, a 28% year-over-year increase. The company went public via reverse takeover in 2021 and is a key player in Canada’s crypto space.
Robinhood plans to fund the acquisition with cash on hand. J.P. Morgan served as Robinhood’s financial advisor, with WonderFi advised by FT Partners and other legal and financial teams.
Source: Swifteradio.com
