Robinhood Markets, Inc. is betting big on crypto and plans to acquire Canadian crypto firm WonderFi in a C$250 million all-cash transaction, marking a major push into the Canadian digital asset space.
The deal values WonderFi shares at C$0.36 each, representing a 41% premium over its last closing price and 71% above its 30-day volume-weighted average. WonderFi, known for operating long-standing regulated platforms Bitbuy and Coinsquare, manages more than C$2.1 billion in assets under custody.
“WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike,” said Johann Kerbrat, SVP and GM of Robinhood Crypto. “They’re an ideal partner to accelerate our mission in Canada.”
The acquisition is expected to close in the second half of 2025, pending regulatory and shareholder approvals. WonderFi will continue operating post-acquisition, with its leadership team joining Robinhood Crypto. Robinhood, which opened its Canadian HQ in Toronto last year, already employs over 140 people in the country.
WonderFi CEO Dean Skurka called the move a “super-charged” opportunity to scale crypto access across Canada, echoing Robinhood’s vision of democratizing finance.
Robinhood will fund the deal entirely with cash on hand. Advisors include J.P. Morgan Securities for Robinhood and FT Partners for WonderFi, alongside legal and financial counsel from multiple firms on both sides.
The move expands Robinhood’s global crypto footprint, which already includes operations in the EU. It also signals growing consolidation in the Canadian digital asset space and sets the stage for increased competition among crypto trading platforms.
Robinhood is growing fast, and it’s share price is a reflection of how well they are doing. It’s just touching on all time high resistance, of $65. The more market share they buy, the bigger they could become. I’m a buyer, now that they have matured award from the Gamestop Saga
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