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Robinhood Acquires WonderFi to Expand Crypto Footprint in Canada
Robinhood Acquires WonderFi to Expand Crypto Footprint in Canada
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Robinhood Markets Inc. has agreed to acquire WonderFi Technologies Inc. for C$250 million (US$179 million) in an all-cash deal, marking a strategic push into Canada’s burgeoning cryptocurrency market. The acquisition includes Bitbuy and Coinsquare, two of Canada’s largest regulated crypto exchanges, significantly bolstering Robinhood’s regional offerings.
WonderFi shareholders will receive C$0.36 per share, representing a 41% premium to the May 12 closing price. The transaction underscores Robinhood’s aggressive expansion in crypto services amid growing institutional interest in digital assets.
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