- Robinhood buys WonderFi for $179M, strengthening its crypto presence in Canada.
- WonderFi shareholders to receive C$0.36 per share, a 41% premium on the closing price.
- Bitbuy and Coinsquare will join Robinhood, boosting its Canadian crypto offerings.
Robinhood Markets Inc. has entered into an agreement to acquire WonderFi Technologies Inc., a major player in the Canadian cryptocurrency market, for approximately C$250 million (US$179 million) in an all-cash transaction. This acquisition will grant Robinhood control over WonderFi’s well-established platform, including Bitbuy and Coinsquare, Canada’s largest regulated crypto exchanges.
The purchase price of C$0.36 per common share was a 41% premium to the closing market price on May 12, 2025. The deal also represents a 71% premium to the 30-day volume-weighted average (VWAP) price of WonderFi shares as of the date.
WonderFi oversees over C$2.1 billion in assets under custody and is a major player in the fast-growing Canadian crypto industry. Through the acquisition of WonderFi, Robinhood seeks to grow in Canada, which is currently viewed as one of the fastest-growing markets for cryptocurrency. The expansion is consistent with Robinhood’s overall global strategy, as it has already been established in selected European Union countries.
Strategic Importance for Robinhood’s Canadian Expansion
This acquisition of WonderFi by Robinhood is an essential milestone in the company’s global growth. The move will let the platform expand its place in the Canadian market and add to the benefits from establishing its headquarters in Toronto in 2024. The headquarters focuses on infrastructure engineering and benefits from having many skilled workers in technology in Canada.
Johann Kerbrat, Senior Vice President and General Manager of Robinhood Crypto, emphasized that WonderFi’s family of brands is well-suited to accelerate its mission in Canada. Bitbuy and Coinsquare platforms provide crypto trading, staking, and custody services, aligning with the platform’s product offerings.
The deal will make the platform’s expertise in democratizing financial product access available to millions of Canadians, thus enabling Canadian crypto users to enjoy low-cost, safe services.
Leadership and Operational Continuity Post-Acquisition
After the acquisition, WonderFi will continue to operate its platforms under the Robinhood umbrella. The leadership group, which includes WonderFi CEO Dean Skurka, will be retained in the enterprise to provide continuity and allow the integration of services. Their experience in delivering digital asset products will help support the growth of the platform’s Canadian business.
The acquisition is expected to be completed in the 2025 second half, subject to customary closing conditions, including regulatory approvals and the acquisition of majority stakeholder approval by WonderFi. The platform will use cash to finance the purchase, further strengthening its financial position in the crypto market.
In addition to incorporating WonderFi’s services, the acquisition will allow the company’s 140 employees in Canada to join the larger team. This will likely spur innovation and expansion in Robinhood’s international crypto services.
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