Robinhood a leading U.S.-based financial services company, has agreed to acquire WonderFi Technologies Inc., a prominent Canadian crypto asset firm, in an all-cash deal valued at approximately C$250 million (about $179 million USD). The acquisition price is C$0.36 per WonderFi share, representing a 41% premium over its closing price on May 12, 2025, and a 71% premium over its 30-day volume-weighted average price.
Strengthening Canadian Operations
This deal marks a major step for Robinhood in expanding its crypto business internationally, especially in Canada, where it opened a technology office in Toronto in 2024. WonderFi’s leadership team will join Robinhood Crypto, and its employees will integrate with Robinhood’s existing Canadian workforce of over 140 employees. The transaction is expected to close in the second half of 2025, pending regulatory approvals, court sign-off, and shareholder consent.
WonderFi’s Market Position and Assets
WonderFi operates two of Canada’s longest-standing regulated crypto trading platforms, Bitbuy and Coinsquare. Together, these platforms hold more than C$2.1 billion in assets under custody and processed over C$3.57 billion in crypto trading volumes in 2024, a 28% increase year-over-year. WonderFi offers a broad range of services including crypto trading, staking, and custody, serving both beginner and advanced crypto users.
Strategic Fit and Future Outlook
Robinhood views WonderFi as an ideal partner to accelerate its mission of democratizing finance in Canada. The acquisition supports Robinhood’s goal of broadening its global financial ecosystem and expanding its crypto product offerings. WonderFi’s platforms will continue to operate post-acquisition, ensuring continuity for Canadian customers while benefiting from Robinhood’s technology and resources.
Acquisition Overview
| Aspect | Details |
| Buyer | Robinhood Markets, Inc. |
| Target | WonderFi Technologies Inc. |
| Deal Value | C$250 million (~$179 million USD) |
| Price per Share | C$0.36 (41% premium over closing price) |
| Assets Under Custody | Over C$2.1 billion |
| 2024 Trading Volume | C$3.57 billion (28% YoY growth) |
| Platforms | Bitbuy, Coinsquare |
| Canadian Workforce | Robinhood: 140+ employees; WonderFi team joins |
| Expected Closing | Second half of 2025 (pending approvals) |
Key Takeaways
- Robinhood is making a significant move into Canada’s crypto market by acquiring WonderFi.
- The all-cash deal offers WonderFi shareholders a substantial premium.
- WonderFi’s established platforms and growth complement Robinhood’s crypto expansion plans.
- The acquisition enhances Robinhood’s international footprint and crypto product lineup.
- WonderFi’s team and platforms will remain active under Robinhood’s ownership.
FAQs
Q: Why is Robinhood acquiring WonderFi?
- A: To expand its presence in Canada’s rapidly growing crypto market and strengthen its crypto product offerings with WonderFi’s established platforms and user base.
Q: Will WonderFi’s platforms continue to operate?
- A: Yes, Bitbuy and Coinsquare will continue operating and be integrated with Robinhood Crypto’s services.
Q: How will this affect WonderFi’s employees?
- A: WonderFi’s leadership and employees will join Robinhood’s Canadian team, expanding its workforce in Toronto.
Q: When will the acquisition be finalized?
- A: The deal is expected to close in the second half of 2025, subject to regulatory and shareholder approvals.
Q: What does this mean for Canadian crypto users?
- A: Users will benefit from combined services of WonderFi and Robinhood, gaining access to a broader range of crypto trading, staking, and custody options.
This acquisition highlights Robinhood’s commitment to growing its international crypto presence and making crypto more accessible in Canada through trusted, regulated platforms. It also reflects ongoing consolidation in the crypto industry as companies seek to scale and offer comprehensive services to a growing user base.
