Source: Cointelegraph
Original: “Robinhood to Acquire Canadian Company WonderFi for $179 Million, Expanding Global Crypto Business”
Brokerage fintech company Robinhood plans to acquire Canadian cryptocurrency company WonderFi for approximately CAD 250 million (USD 179 million) in an all-cash transaction to expand its global business reach.
Robinhood announced in a press release on May 13 that the acquisition is expected to be completed in the second half of 2025.
WonderFi operates two of Canada’s oldest regulated crypto trading platforms, Bitbuy and Coinsquare, managing over CAD 2.1 billion in custodial assets. These platforms offer crypto trading, staking, and custody services.
Johann Kerbrat, Senior Vice President and General Manager of Robinhood's crypto division, stated, “WonderFi has built a strong family of brands serving both novice and advanced crypto users, making it an ideal partner to accelerate Robinhood's mission in Canada.”
According to the terms of the deal, Robinhood will acquire all outstanding shares of WonderFi at a price of CAD 0.36 per share, which represents a 41% premium over WonderFi's last closing price on the Toronto Stock Exchange and a 71% premium over its 30-day volume-weighted average price.
Prior to the transaction, WonderFi had a market capitalization of CAD 163.9 million, and its stock price had fallen 13.6% on the Toronto Stock Exchange this year.
The transaction is still subject to customary closing conditions, including regulatory and court approvals, as well as approval from WonderFi shareholders.
Robinhood's acquisition of WonderFi for $179 million is part of a wave of mergers and acquisitions (M&A) in the crypto industry in 2025, driven by the friendly regulatory policies of U.S. President Trump.
Significant deals this year include Coinbase's acquisition of Deribit for $2.9 billion and Ripple's acquisition of Hidden Road for $1.25 billion.
Additionally, on May 2, Kraken completed its acquisition of the futures trading platform NinjaTrader, which will expand the exchange's customer base and enable it to offer crypto futures and derivatives in the U.S.
Robinhood has also been on an acquisition spree. In 2024, the brokerage acquired Bitstamp crypto exchange for $200 million, allowing the app to serve institutional clients in the U.S.
On May 7, there were also reports that Robinhood is developing a blockchain network to enable European retail investors to trade U.S. securities.
Notably, WonderFi performed strongly in 2024, processing CAD 3.57 billion in trading volume, a 28% increase from the previous year.
Related: Arizona Governor Vetoes Two Cryptocurrency Bills and Strengthens Regulation of Bitcoin (BTC) ATMs
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