Robinhood Markets, Inc. has agreed to acquire WonderFi
Technologies Inc., a Canadian company that operates two regulated crypto
trading platforms. The deal is valued at approximately C$250 million.
WonderFi runs Bitbuy and Coinsquare, platforms that together
hold more than C$2.1 billion in assets under custody. The company is known for
offering services such as crypto trading, staking, and custody.
Robinhood Offers Premium for WonderFi Acquisition
“WonderFi and Robinhood are united in our visions of making
crypto accessible and bringing more people into the crypto space,” said
WonderFi President and CEO Dean Skurka. “We’re delighted to be joining the
Robinhood team and to super-charge our product offerings for customers.”
Robinhood said the acquisition supports its strategy to
expand its crypto business internationally. The company already provides crypto
services in some European countries. It entered Canada in 2024 by opening a
technology office in Toronto.
Under the agreement, Robinhood will pay C$0.36 per share in
cash to acquire all outstanding shares of WonderFi. This represents a 41%
premium over WonderFi’s closing share price on May 12, 2025, and a 71% premium
over the 30-day volume-weighted average price.
Deal Expected to Close 2025
WonderFi will continue to operate its existing platforms
after the deal closes. Its leadership team will join Robinhood Crypto. More
than 140 Robinhood employees are already based in Canada.
The acquisition is expected to close in the second half of
2025. It is subject to regulatory and court approvals, as well as a vote by
WonderFi’s shareholders. Robinhood plans to fund the transaction with its
existing cash reserves.
“This transaction is the culmination of those efforts and
the launchpad for Robinhood to democratize finance across Canada. The
arrangement provides WonderFi shareholders with all-cash consideration at an
attractive premium to our recent trading levels,” said Bobby Halpern, Executive
Chairman of WonderFi.
This article was written by Tareq Sikder at www.financemagnates.com.
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