Robinhood Markets Inc. has announced its intention to acquire WonderFi Technologies Inc., a Canadian crypto company operating two of the country’s top regulated trading platforms, in a deal valued at approximately C$250 million. The acquisition highlights Robinhood’s strategic push into the global crypto market and aims to firmly establish the company in the Canadian fintech landscape.
WonderFi is best known for operating Bitbuy and Coinsquare, two platforms that collectively manage over C$2.1 billion in assets under custody. These platforms offer a wide range of services, including crypto trading, staking, and secure asset custody, services that Robinhood sees as complementary to its expanding international crypto ambitions.
Robinhood Pays a Significant Premium to Seal the Deal
The acquisition terms include C$0.36 per WonderFi share in cash, representing a 41% premium over WonderFi’s May 12, 2025, closing price, and a 71% premium over the 30-day volume-weighted average. This substantial premium underlines Robinhood’s commitment to entering Canada’s regulated crypto sector with a strong foothold.
Robinhood, which entered Canada in 2024 by launching a technology office in Toronto, sees this move as a natural extension of its international crypto expansion. The company already operates crypto services across parts of Europe and has made it clear that Canada is a key market in its long-term growth plan.
WonderFi to Retain Its Platforms and Join Robinhood Crypto
Following the deal’s closure, WonderFi will continue operating its Bitbuy and Coinsquare platforms, maintaining continuity for its existing user base. The leadership team of WonderFi will also join Robinhood Crypto, further integrating the Canadian firm into Robinhood’s broader global crypto operations.
Robinhood, which already has over 140 employees based in Canada, plans to fund the acquisition entirely through existing cash reserves, showcasing its strong balance sheet and commitment to strategic growth.
The acquisition is slated to close in the second half of 2025, pending regulatory approvals, court sign-off, and approval from WonderFi shareholders.
A Big Move in Global Crypto Expansion
This acquisition marks a major milestone for Robinhood’s global crypto strategy, solidifying its presence in Canada and giving it control over two of the country’s most trusted digital asset platforms. As competition intensifies among global exchanges, this move positions Robinhood as a serious contender in the regulated crypto space beyond U.S. borders.
