Just in time for Canada Crypto Week, Robinhood Markets (NASDAQ:HOOD) has announced a definitive agreement to acquire Canadian digital asset firm WonderFi Technologies (TSX:WNDR,OTCQB:WONDF) for approximately C$250 million (US$179 million) in an all-cash transaction.
The deal, which amounts to a 41percent premium over WonderFi’s Monday (May 12) closing price, is expected to be finalized in the second half of 2025, pending regulatory and shareholder approvals.
The acquisition marks a significant expansion of Robinhood’s international footprint. WonderFi operates two of Canada’s longest-standing regulated crypto platforms, Bitbuy and Coinsquare, managing over C$2.1 billion in assets.
The integration of these platforms will enhance Robinhood’s crypto offerings, aligning with its mission to democratize finance globally. WonderFi’s leadership and employees will join the Robinhood Crypto team, contributing their expertise in delivering a wide range of digital asset products to Canadian customers.
“Through a long and focused effort, WonderFi successfully built one of Canada’s largest registered Crypto-Trading platforms,” said Bobby Halpern, executive chairman of WonderFi. “This transaction is the culmination of those efforts and the launchpad for Robinhood to democratize finance across Canada. The arrangement provides WonderFi shareholders with all-cash consideration at an attractive premium to our recent trading levels.”
Robinhood, best known for its work “democratizing access to investing” in the US, has been expanding its global reach with a growing crypto footprint in Europe and now Canada. Backed by strong cash reserves, the company said in Tuesday’s (May 13) release that it will fully fund its acquisition of WonderFi using cash on hand.
The decision to acquire WonderFi builds upon Robinhood’s establishment of its Canadian headquarters in Toronto in 2024, a move that was aimed at leveraging the country’s deep pool of tech talent.
“WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike, making them an ideal partner to accelerate Robinhood’s mission in Canada,’ said Johann Kerbrat, senior vice president and general manager of Robinhood Crypto, adding that Robinhood looks forward to working with WonderFi in Canada.
The deal is part of a broader trend of consolidation in the crypto industry, with major players like Coinbase Global (NASDAQ:COIN) and Ripple also making significant acquisitions in 2025.
Robinhood’s strategic expansion into Canada through WonderFi positions the company to better serve growing demand for accessible and regulated crypto trading platforms in the region.
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.