Robinhood Buys WonderFi: $178M Crypto Deal

Robinhood Acquires Canadian Crypto Powerhouse WonderFi

Popular trading platform Robinhood Markets announced a significant expansion into Canada's burgeoning crypto market. In an all-cash transaction valued at $250 million CAD (approximately $178 million USD), Robinhood will acquire WonderFi, one of Canada's largest regulated crypto trading ecosystems. This represents a 41% premium to WonderFi's last closing share price and a 71% premium above its 30-day average.

Key Highlights of the Acquisition

• Significant Market Entry: This acquisition provides Robinhood with a substantial presence in Canada's rapidly growing digital asset market.
• Established Infrastructure: WonderFi operates Bitbuy and Coinsquare, two prominent Canadian exchanges managing over $2.1 billion CAD in client assets.
• Large User Base: WonderFi boasts the largest user base of crypto participants in Canada, with roughly 1.6 million active users.
• Strategic Alignment: Both companies share a vision of making crypto more accessible to a broader audience.

"WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike, making them an ideal partner to accelerate Robinhood’s mission in Canada," stated Johann Kerbrat, SVP and GM of Robinhood Crypto.

Dean Skurka, WonderFi's President and CEO, added, "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."

Transaction Details and Next Steps

Robinhood, which established its Canadian headquarters in Toronto in 2024, plans to retain WonderFi's leadership team and continue operating its platforms. The transaction is anticipated to close in the second half of 2025, pending regulatory approvals, court approval, and WonderFi shareholder approval.

This acquisition follows Robinhood's $200 million acquisition of Bitstamp last June, highlighting the company's strategic commitment to global expansion in the cryptocurrency sector.

Note: Codeum provides comprehensive blockchain security solutions, including smart contract audits, KYC verification, custom smart contract and DApp development, tokenomics and security consultation, and partnerships with launchpads and crypto agencies. We help ensure the security and integrity of blockchain projects.