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2w ago

Robinhood Acquires WonderFi in $250M Push Into Canadian Crypto Market

The all-cash deal aims to integrate WonderFi’s platforms and team into Robinhood Crypto, expanding the company’s global footprint and deepening its digital asset offerings.

Electronic screens in New York's Times Square announce the Robinhood IPO, Thursday, July 29, 2021. Robinhood has already changed how people trade stocks and who's doing it. Now its sights are on the rest of the financial industry. (AP Photo/Mark Lennihan)
Robinhood logo is seen on a smartphone in front of a displayed same logo in this illustration taken, July 2, 2021. REUTERS/Dado Ruvic/Illustration
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Robinhood

Overview

  • Robinhood confirmed the acquisition of Canadian crypto firm WonderFi for C$250 million, valuing shares at C$0.36, a 41% premium over its last closing price.
  • WonderFi operates two regulated crypto exchanges, Bitbuy and Coinsquare, which collectively processed C$3.57 billion in trading volume in fiscal 2024, a 28% year-over-year increase.
  • The acquisition will add WonderFi’s team, including CEO Dean Skurka, to Robinhood Crypto, building on the company’s existing workforce of over 140 employees in Toronto.
  • This move follows Robinhood’s $200 million purchase of European crypto exchange Bitstamp in 2024, reinforcing its strategy to expand internationally and enhance its crypto offerings.
  • The transaction is expected to close in the second half of 2025, marking Robinhood’s first major entry into Canada’s regulated digital asset sector.