Robinhood to Acquire WonderFi for $250M CAD as Crypto Push Targets Canada

Robinhood Markets is making a bold move into the Canadian crypto market with a $250 million CAD acquisition of WonderFi, a Toronto-based cryptocurrency firm. The WonderFi acquisition will see Robinhood purchase all outstanding WonderFi shares at $0.36 CAD each, representing a 41% premium over WonderFi’s recent closing price.

This deal gives Robinhood a strategic foothold in Canada, allowing it to scale its crypto services by acquiring two of the country’s most well-known exchanges: Bitbuy and Coinsquare. Together, these platforms boast over 1.7 million registered users and manage $2.1 billion in client assets.

The deal, announced May 13, 2025, will see Robinhood purchase WonderFi’s outstanding common shares at $0.36 CAD each, representing a 41% premium over the previous day’s closing price.

Robinhood’s Canadian Expansion Strategy

Robinhood Crypto’s Johann Kerbrat described WonderFi as an “ideal partner” to accelerate Robinhood’s growth in Canada. WonderFi’s platforms, Bitbuy and Coinsquare, are among Canada’s most popular regulated crypto exchanges, with over 1.7 million users and $2.1 billion in client assets.

This acquisition will bring WonderFi’s leadership and employees into Robinhood’s Canadian workforce. Robinhood, which established its Toronto headquarters in 2024, already employs 140 people in Canada.

WonderFi’s Crypto Legacy

WonderFi has spent years consolidating Canada’s crypto market, acquiring platforms like Bitbuy, Bitvo, CoinSmart, and Coinberry. Despite these moves, WonderFi’s stock has struggled, currently down 68% from its 2022 peak.

This deal offers Robinhood a stronger foothold in Canada, positioning it to directly compete with Wealthsimple, which manages over $73 billion CAD in assets.

Crypto Growth Under New U.S. Policies

Robinhood’s crypto expansion aligns with U.S. President Donald Trump’s pro-crypto stance, which has revitalized the industry. Analysts suggest Robinhood’s aggressive crypto strategy could double its share price.

If regulators and shareholders approve, the companies plan to close the acquisition in the second half of 2025.

Do you think Robinhood’s WonderFi deal will give it a real edge in Canada’s crypto market? Let us know in the comments.

More…

• https://www.reuters.com/business/finance/robinhood-woos-canadian-crypto-users-with-nearly-180-million-wonderfi-purchase-2025-05-13
• https://financialpost.com/pmn/business-pmn/robinhood-agrees-to-buy-crypto-platform-operator-wonderfi
• https://www.cnbc.com/2025/05/13/robinhood-to-buy-canadian-crypto-firm-wonderfi-for-nearly-180-million.html