Robinhood plans to buy Canada’s WonderFi for $179 million, expanding its global crypto presence and strengthening its footprint in the digital asset market.
As its global presence expands, Robinhood plans to pay $179 million in cash to purchase Canadian cryptocurrency company WonderFi, joining an increasing number of cryptocurrency M&A deals.
Fintech brokerage. Robinhood plans to pay roughly 250 million Canadian dollars ($179 million) to increase its global footprint by purchasing WonderFi, a Canadian cryptocurrency company.
According to a news release by Robinhood on May 13, the acquisition is anticipated to close in the second half of 2025.
WonderFi manages over 2.1 billion Canadian dollars in assets under custody and runs Bitbuy and Coinsquare, two of Canada’s oldest regulated cryptocurrency trading platforms. These platforms provide custody, staking, and trading services for cryptocurrencies.
According to Johann Kerbrat, senior vice president and general manager of Robinhood Crypto, “WonderFi has established a strong family of brands catering to both novice and expert cryptocurrency users, making them an ideal partner to accelerate Robinhood’s mission in Canada.”
The agreement stipulates that Robinhood would purchase all of WonderFi’s outstanding shares for 0.36 Canadian dollars per share, 41% more than WonderFi’s most recent closing price on the Toronto Stock Exchange and 71% higher than its 30-day volume-weighted average price.
WonderFi had a market value of 163.9 million Canadian dollars before the transaction, and its stock was down 13.6% on the Toronto Stock Exchange thus far this year.
Customary closing criteria, such as regulatory and court approvals and WonderFi’s shareholders’ approval, still apply to the deal.
The crypto M&A craze intensifies.
The $179 million purchase of WonderFi by Robinhood is a part of a larger wave of 2025 M&As in the cryptocurrency sector, which are being fueled by more lenient US rules under President Donald Trump.
This year’s significant transactions include Ripple’s $1.25 billion acquisition of Hidden Road and Coinbase’s $2.9 billion acquisition of Deribit.
In addition, Kraken finalized its purchase of NinjaTrader, a futures trading platform, on May 2. This move would increase the exchange’s clientele and allow it to provide cryptocurrency futures and derivatives in the United States.
Robinhood has been actively making numerous purchases. The app may now serve institutional clients in the US thanks to the brokerage firm’s $200 million acquisition of the Bitcoin exchange Bitstamp in 2024.
Additionally, on May 7, it was revealed that Robinhood is creating a blockchain network that will allow individual investors in Europe to trade US assets.
Interestingly, WonderFi performed well in 2024, handling $3.57 billion in trade volume, a 28% rise over the year before.
