Robinhood Markets, Inc. has announced a strategic move to expand its international crypto presence by acquiring Canadian digital asset platform WonderFi in a C$250 million (approximately $180 million USD) all-cash deal.
The acquisition, set at C$0.36 per share, reflects a 41% premium over WonderFi’s most recent closing price and a 71% premium over its 30-day volume-weighted average.
Once the transaction is finalized, WonderFi will continue to operate independently, but its leadership and operational teams will be integrated into Robinhood Crypto to focus on enhancing services within the Canadian market.
The acquisition solidifies Robinhood’s commitment to scaling its crypto offerings beyond the U.S. and into key growth regions like Canada.
Strengthening Robinhood’s Presence in Canada’s Rapidly Growing Crypto Market
Canada is one of the fastest-growing crypto markets globally, and WonderFi represents a major player within it, with over C$2.1 billion in assets under custody.
The company operates two of the country’s longest-standing regulated crypto platforms, Bitbuy and Coinsquare, providing services in trading, staking, and custody.
These offerings align closely with Robinhood’s crypto ecosystem, which is known for its user-friendly interface, low fees, and commitment to secure digital finance.
Robinhood aims to leverage WonderFi’s regulatory experience and product infrastructure to provide Canadians with broader access to crypto markets while maintaining high standards of compliance and innovation.
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Strategic Synergy: Robinhood’s Expansion and WonderFi’s Continued Operation
Robinhood will fully acquire all issued and outstanding shares of WonderFi under British Columbia’s Business Corporations Act.
Despite the acquisition, WonderFi will retain its brand and product autonomy while contributing its talent and technological resources to Robinhood’s larger crypto division.
Over 140 Robinhood employees already based in Canada, mostly in Toronto, where the company opened an engineering hub in 2024, will now be joined by WonderFi’s staff.
Together, they will work on developing user-centric crypto products tailored for Canadian customers.
Robinhood’s credibility as a global financial innovator and its history of successful cross-border transactions provides confidence in its ability to scale this integration smoothly.
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Financial and Legal Advisors Shape a High-Stakes Deal
The acquisition is expected to close in the second half of 2025, pending regulatory and shareholder approvals.
A full team of top-tier financial and legal advisors supported the deal. J.P. Morgan acted as Robinhood’s exclusive financial advisor, while legal support came from Davies Ward Phillips & Vineberg LLP.
WonderFi was guided by Financial Technology Partners and multiple other firms, including Canaccord Financial, Origin Merchant Partners, and PowerOne Capital Markets Limited.
The comprehensive advisory structure underscores the significance of the deal and its potential to reshape Canada’s digital finance landscape.
For WonderFi shareholders, the all-cash offer delivers substantial value at a time when consolidation in the crypto industry continues to accelerate.
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