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Robinhood to Acquire WonderFi for $178.9 Million in Major Canadian Expansion
Robinhood to Acquire WonderFi for $178.9 Million in Major Canadian Expansion
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Robinhood announced its acquisition of WonderFi on May 13, marking a strategic push into the Canadian cryptocurrency market. The $178.9 million deal, financed entirely with cash, is slated to close in the second half of 2025, pending regulatory and shareholder approvals.
WonderFi boasts a robust footprint in Canada, managing over 2.1 billion CAD in custodied assets. Its subsidiaries, Bitbuy and Coinsquare, are regulated digital asset exchanges that recorded 3.57 billion CAD in trading volume and 62.1 million CAD in revenue last year. "WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike," Robinhood noted, underscoring the synergy between the two platforms.
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