Major U.S. investment platform Robinhood is set to significantly expand its international footprint through the acquisition of WonderFi Technologies Inc., a prominent player in the Canadian cryptocurrency market. This strategic move positions Robinhood to enter Canada and leverage WonderFi’s established presence and regulatory standing within the country’s digital asset ecosystem.
The proposed transaction involves Robinhood acquiring WonderFi in an all-cash deal valued at approximately CAD 250 million, which translates to roughly USD 179 million. WonderFi currently operates two of Canada’s long-standing registered crypto trading platforms, Bitbuy and Coinsquare, overseeing substantial assets under management totaling more than CAD 2.1 billion (over USD 1.5 billion).
Strategic Rationale and Market Entry
This acquisition is seen as a direct path for Robinhood to accelerate its entry into the Canadian market. WonderFi’s existing infrastructure, regulatory approvals, and established user base are expected to provide Robinhood with an immediate and significant foothold. The leadership teams from both companies highlighted a shared vision of making digital assets more accessible to a wider audience.
A key aspect of the deal structure includes a notable premium over WonderFi’s recent trading prices, reflecting the strategic value placed on its market position and assets. This premium ensures shareholders receive a strong return.
Transaction Details and Timeline
Under the terms of the agreement, WonderFi shareholders will receive CAD 0.36 per share in cash. The completion of the acquisition is anticipated in the second half of 2025. This timeline is subject to standard closing conditions, including necessary approvals from both regulatory bodies in Canada and the United States, as well as approval from WonderFi shareholders.
Integration and Future Operations
Following the completion of the deal, WonderFi’s existing platforms, Bitbuy and Coinsquare, are expected to continue their operations. Robinhood already has a significant presence in Canada, with an infrastructure hub in Toronto employing over 140 individuals. The leadership team from WonderFi is also slated to join Robinhood Crypto to help manage and grow the Canadian operations.
This expansion into Canada follows Robinhood’s recent efforts to broaden its cryptocurrency offerings globally, including launching crypto trading services in select European Union countries and partnering with financial services firms for products like futures trading.
Chris brings over six years of hands-on experience in cryptocurrency, bitcoin, business, and finance journalism. He’s known for clear, accurate reporting and insightful analysis that helps readers stay informed in fast-moving markets. When he’s off the clock, Chris enjoys researching emerging blockchain projects and mentoring new writers.