Robinhood Acquires WonderFi in C$250 Million Deal to Expand Canadian Crypto Presence

Robinhood has announced a strategic acquisition of Canadian crypto firm WonderFi for C$250 million (US$178 million) in an all-cash transaction. The deal grants Robinhood access to over C$2.1 billion in assets under custody and strengthens its foothold in Canada’s rapidly growing cryptocurrency market.

WonderFi, operator of two regulated Canadian platforms—Bitbuy and Coinsquare—will continue operations under Robinhood Crypto. Shareholders of WonderFi will receive C$0.36 per common share, representing a 41% premium to the stock’s May 12 closing price and a 71% premium to its 30-day volume-weighted average price.

The acquisition, pending shareholder and regulatory approvals, is expected to close in the second half of 2025. This move underscores Robinhood’s aggressive push into global crypto markets, leveraging Canada’s progressive regulatory environment.