Robinhood to Acquire Canada’s WonderFi Technologies in $178M Deal

Robinhood Markets, Inc. has announced an agreement to acquire WonderFi Technologies Inc., a leading Canadian digital asset platform, in a $178 million all-cash deal. 

The acquisition will give Robinhood access to more than C$2.1 billion ($1.5 billion) in assets under custody through WonderFi’s two long-standing, regulated crypto platforms in Canada.

The deal will see Robinhood purchase all issued and outstanding common shares of WonderFi at C$0.36($0.27) per share under a statutory plan of arrangement. 

The offer represents a 41% premium to WonderFi’s May 12, 2025, closing share price on the Toronto Stock Exchange and a 71% premium over its 30-day volume-weighted average trading price. 

Pending regulatory, court, and shareholder approvals, the transaction is expected to close in the second half of 2025.

Robinhood Taps into Canadian Market by Acquiring Wonderfi to Expand Globally

Robinhood’s move to tap into the Canadian Market is a leap forward in its global expansion plan to increase its market share.

“WonderFi and Robinhood are united in our visions of making crypto accessible and bringing more people into the crypto space, […] We’re delighted to be joining the Robinhood team and to super-charge our product offerings for customers,”

said Dean Skurka, President and CEO of WonderFi.

Following the acquisition, WonderFi will continue to operate its products, and its leadership team will remain in place as part of Robinhood Crypto. 

WonderFi employees will join over 140 Robinhood team members already based in Canada. 

Moreover, Robinhood, which established its Canadian headquarters in Toronto in 2024 as an infrastructure engineering hub, aims to enter the country’s deep pool of tech talent to support its expanding global vision.

Robinhood Strengthened Its Global Crypto Strategy with $200M Bitstamp Deal

Before this latest deal, on June 6, 2024, Robinhood announced its agreement to acquire Bitstamp Ltd., one of the longest-standing and most trusted global cryptocurrency exchanges. 

The deal, valued at approximately $200 million in cash, boosted Robinhood’s international presence and broadened its appeal to institutional investors.

“This strategic combination better positions us to expand outside the U.S. and welcome institutional customers to Robinhood,” said Johann Kerbrat, General Manager of Robinhood Crypto.

The deal remained subject to regulatory approvals and other closing conditions, and its completion is expected to be in the first half of 2025.