Robinhood Markets, Inc. has announced the acquisition of Canadian crypto leader WonderFi Technologies Inc. for approximately USD 178 million (CAD 250 million) in an all-cash transaction. The move marks Robinhood’s official entry into Canada’s regulated digital asset market.
The acquisition brings more than C$2.1 billion in assets under custody into Robinhood’s ecosystem and adds two of Canada’s most prominent crypto trading platforms—Bitbuy and Coinsquare—to its growing international portfolio.
Deal Highlights: Major Premium for WonderFi Shareholders
Robinhood has signed an agreement to acquire @WonderFi, a Canadian leader in crypto products.
We’re excited to partner with WonderFi to accelerate Robinhood’s mission in Canada.
More details: https://t.co/B2ygTDYOPw pic.twitter.com/9u1c0vJeWV
— Robinhood (@RobinhoodApp) May 13, 2025
Under the merger agreement, WonderFi shareholders will receive C$0.36 per share, a 41% premium over the company’s May 12 closing price and 71% above its 30-day volume-weighted average. The deal offers a clean exit strategy for investors following a flat performance phase and a wave of consolidation in the Canadian crypto space.
“WonderFi has built a formidable family of brands serving beginner and advanced users alike. They’re an ideal partner to accelerate our expansion in Canada,” said Johann Kerbrat, Senior VP and GM of Robinhood Crypto.
Strategic Entry into the Regulated Canadian Market
Robinhood’s acquisition of WonderFi is a calculated move into one of the most tightly regulated crypto jurisdictions in North America. The deal gives Robinhood instant access to WonderFi’s regulatory licenses and infrastructure, as well as exposure to both retail and institutional clients in Canada.
WonderFi currently operates Bitbuy and Coinsquare, two of Canada’s largest regulated cryptocurrency trading platforms. The integration of these platforms into Robinhood’s crypto division will significantly bolster its presence in the North American market.
Robinhood’s Global Crypto Expansion
The WonderFi acquisition follows closely on the heels of Robinhood’s $200 million acquisition of Bitstamp, announced in June 2024. These back-to-back deals highlight Robinhood’s determination to become a global crypto powerhouse, especially as demand for regulated digital asset platforms grows worldwide.
Robinhood also established its Canadian headquarters in Toronto in 2024, housing over 140 employees and serving as an engineering and infrastructure hub. The newly acquired WonderFi stack will be a critical piece of the company’s infrastructure expansion in the region.
What Comes Next?
The transaction is still subject to Canadian regulatory approvals, but it is expected to close in the second half of 2025. Upon completion, WonderFi’s operations will be folded into Robinhood Crypto, while its current President and CEO, Dean Skurka, and leadership team are expected to remain onboard post-merger.
The acquisition strengthens Robinhood’s foothold in North America and reflects its larger ambition to build a comprehensive and compliant global crypto offering.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
