TLDR
- Robinhood has agreed to acquire Canadian crypto platform WonderFi in an all-cash deal worth approximately $179 million.
- The acquisition values WonderFi shares at C$0.36, offering a 41 percent premium over their May 12 closing price.
- WonderFi operates Bitbuy, Coinsquare, and SmartPay, managing over C$2.1 billion in client assets under custody.
- After the acquisition, the WonderFi leadership team will remain in place and continue operations under Robinhood Crypto.
- WonderFi employees will join Robinhood, which already has over 140 staff members in Canada.
Robinhood has agreed to acquire WonderFi Technologies in an all-cash deal valued at C$250 million or approximately $179 million. The deal signals Robinhood’s strategic push into Canada’s regulated crypto market as part of its global expansion. Both companies confirmed the transaction, which is expected to close in the second half of 2025.
The agreement values WonderFi’s share at C$0.36, a 41% premium over its May 12 closing price. Moreover, the deal reflects a 71% premium to WonderFi’s 30-day volume-weighted average trading price. Through this acquisition, Robinhood aims to accelerate its Canadian growth by leveraging WonderFi’s extensive crypto infrastructure.
The acquisition includes all WonderFi subsidiaries, such as Bitbuy, Coinsquare, and SmartPay, which currently manage over C$2.1 billion in client assets. Robinhood’s crypto division will integrate these platforms while retaining the current WonderFi leadership. In addition, WonderFi’s employees will join Robinhood, expanding its Canadian workforce beyond its 140 current staff members.
Robinhood Expands Crypto Presence in Canada
Robinhood will use WonderFi’s regulatory licenses and operational platforms to strengthen its Canadian footprint in the digital asset sector. Since WonderFi already operates under Canada’s regulated framework, Robinhood will gain a significant operational advantage. With this move, Robinhood will add immediate scale and credibility to its Canadian crypto offering.
The acquisition builds on Robinhood’s growing international crypto ambitions. The company opened a Canadian headquarters in Toronto in 2023. By combining resources, Robinhood expects to broaden access to crypto trading tools and services in the country and introduce new crypto products tailored to the Canadian market’s demands.
WonderFi shareholders will vote on the transaction at a special meeting scheduled for July 2025. The deal also requires approval from regulatory authorities before completion in the second half of 2025. If approved through a fully operational and compliant platform, Robinhood will officially enter Canada’s retail crypto trading market.
WonderFi to Operate Under Robinhood Crypto Division
WonderFi will continue its business under the Robinhood Crypto division post-acquisition while maintaining its executive leadership. The integration is set to preserve service continuity for existing users while expanding platform capabilities. Robinhood expects the move to boost product innovation and platform development across all crypto verticals.
Robinhood intends to retain and integrate WonderFi’s workforce, which includes compliance and product development teams. This strategic alignment will support future crypto offerings across multiple user categories. The company believes WonderFi’s expertise complements its broader crypto mission.
Advisors involved in the deal include JPMorgan Securities for Robinhood and Financial Technology Partners for WonderFi. Legal counsel was provided by Davies Ward Phillips & Vineberg for Robinhood, and Cassels Brock & Blackwell and Mintz for WonderFi. The acquisition comes amid a broader wave of consolidation in the global crypto sector.
Crypto M&A Activity Rises Across Markets
Robinhood’s move follows its recent agreement to buy Bitstamp, a European exchange, for $200 million. These acquisitions highlight Robinhood’s strategy to scale its crypto business outside the U.S. and access new markets. By acquiring licensed and established platforms, Robinhood quickly avoids lengthy regulatory approvals and builds presence.
The crypto industry has seen a surge in merger activity as firms seek scale, compliance advantages, and infrastructure improvements. Notable deals include Coinbase acquiring Deribit for $2.9 billion and Kraken purchasing NinjaTrader for $1.5 billion. Ripple also joined the wave, acquiring Hidden Road for $1.25 billion.
This trend reflects strong confidence in the long-term value of digital assets and their role in future finance. Robinhood’s acquisition of WonderFi fits into this broader consolidation landscape, targeting licensed platforms with proven user bases. The transaction strengthens Robinhood’s role in shaping regulated crypto markets globally.
