Robinhood Makes Aggressive $178M Crypto Grab – Snags Canada’s WonderFi at 41% Premium

Robinhood just placed a big bet on crypto’s northern frontier. The trading app is shelling out $178 million for Canadian crypto platform WonderFi—paying a 41% premium that’d make even meme-stock traders blush.

Why the lavish spending? WonderFi gives Robinhood instant access to Canada’s regulated crypto market, complete with licenses to operate across all provinces. The move comes as US regulators keep playing whack-a-mole with crypto firms.

Wall Street’s favorite ’democratizing finance’ app clearly isn’t waiting for regulatory clarity. While traditional finance gatekeepers wring their hands, Robinhood’s buying the picks and shovels. Just don’t ask how they’ll recoup that premium when crypto winter inevitably returns.

WonderFi Shareholders to Receive All-Cash Consideration

Under the terms of the agreement, Robinhood will acquire all issued and outstanding common shares of WonderFi for C$0.36 per share in cash.

This will be executed through a statutory plan of arrangement under British Columbia’s Business Corporations Act. The total equity value of the deal stands at approximately C$250 million on a fully diluted, in-the-money basis.

WonderFi President and CEO Dean Skurka expressed confidence in the alignment of the companies’ missions.

“We’re delighted to be joining the Robinhood team and to supercharge our product offerings for customers,” he said. Bobby Halpern, Executive Chairman of WonderFi, added that the all-cash offer represents the culmination of years of development, creating a launchpad for further growth under Robinhood.

Purchase Price Represents a 41% Premium

The purchase price reflects a 41% premium to WonderFi’s closing share price on the Toronto Stock Exchange as of May 12, 2025, and a 71% premium to the 30-day volume-weighted average price.

The deal is expected to close in the second half of 2025, subject to shareholder, court, and regulatory approvals.

J.P. Morgan advised Robinhood, while Financial Technology Partners advised WonderFi, and received legal and fairness-opinion support from several prominent Canadian firms.

Robinhood Plans Blockchain-Based Trading for Europe

Robinhood is developing a blockchain-based platform that will allow retail investors in Europe to trade U.S. securities, including stocks.

The initiative will likely be launched in partnership with a digital-asset firm. Both Arbitrum, a blockchain overlaid on Ethereum, and solana have been under consideration for the collaboration, though discussions are still ongoing. This move to offer tokenized U.S. securities aligns with a broader trend in the financial industry.