Robinhood to Acquire WonderFi in Strategic Expansion into Canadian Crypto Market

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The cryptocurrency landscape in North America is set for a major shift as Robinhood Markets, Inc. announces its agreement to acquire WonderFi, a leading Canadian digital asset platform. This strategic move marks a significant step in Robinhood’s mission to build a global financial ecosystem, with a strong focus on expanding accessible, secure, and innovative crypto services to millions of Canadians.

With WonderFi operating two of Canada’s longest-standing regulated crypto platforms—Bitbuy and Coinsquare—the acquisition brings together complementary strengths in product innovation, regulatory compliance, and customer trust. The deal will see WonderFi shareholders receive C$0.36 per common share in an all-cash transaction, representing a 41% premium over the closing price and a 71% premium to the 30-day volume-weighted average price (VWAP) as of May 12, 2025.

👉 Discover how this acquisition could reshape crypto access across North America.

A Shared Vision for Democratized Finance

At the heart of this acquisition lies a shared vision: making cryptocurrency accessible to everyone. Robinhood, known for democratizing stock trading in the U.S., has long championed low-cost, user-friendly financial tools. Now, by integrating WonderFi’s proven infrastructure and local market expertise, Robinhood Crypto aims to bring that same disruptive energy to Canada’s rapidly growing digital asset market.

Canada ranks among the fastest-growing crypto adoption regions globally, with increasing demand for secure, compliant, and easy-to-use platforms. WonderFi has been at the forefront of meeting this demand, managing over C$2.1 billion in assets under custody and serving a diverse user base—from beginners to advanced traders.

“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,” said Johann Kerbrat, SVP and GM of Robinhood Crypto. “We look forward to partnering with the WonderFi team to deliver innovative, user-centric crypto products to Canadian customers.”

This synergy between platforms extends beyond branding. Both companies offer core services such as crypto trading, staking, and secure custody solutions, creating a seamless integration path that prioritizes continuity for existing users.

Strategic Benefits of the Acquisition

1. Enhanced Market Reach

By acquiring WonderFi, Robinhood gains immediate access to a well-established customer base and regulatory footprint in Canada. This allows for faster scaling compared to launching a greenfield operation, reducing time-to-market and compliance hurdles.

2. Technology and Talent Integration

WonderFi’s technology stack—including its robust trading engines and compliance frameworks—will be integrated into Robinhood Crypto’s global infrastructure. Additionally, the entire WonderFi leadership team will remain with the company, ensuring operational stability and deep domain expertise.

More than 140 Robinhood employees already operate out of its Toronto headquarters, established in 2024 as an engineering hub. The addition of WonderFi’s talent pool strengthens Robinhood’s presence in one of North America’s top tech talent markets.

3. Continuity for Users

Importantly, WonderFi will continue to operate its products post-acquisition. Customers of Bitbuy and Coinsquare can expect uninterrupted service while gradually benefiting from enhanced features powered by Robinhood’s broader resources and technological capabilities.

Financial Details and Transaction Structure

Robinhood will acquire all issued and outstanding common shares of WonderFi through a statutory plan of arrangement under the Business Corporations Act (British Columbia). The total equity value of the transaction is approximately C$250 million on a fully diluted, in-the-money basis.

The all-cash deal underscores Robinhood’s strong financial position. The company intends to finance the purchase using cash on hand, reflecting confidence in its ability to execute large-scale international transactions while maintaining operational flexibility.

“This transaction is the culmination of our long-term efforts to build one of Canada’s largest registered crypto-trading platforms,” said Bobby Halpern, Executive Chairman of WonderFi. “It also serves as a launchpad for Robinhood to democratize finance across Canada.”

Dean Skurka, President and CEO of WonderFi, 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 super-charging our product offerings for customers.”

👉 See what’s next for crypto innovation in regulated markets.

Regulatory and Closing Timeline

The acquisition is expected to close in the second half of 2025, pending customary closing conditions. These include:

Advisory firms involved in the transaction include J.P. Morgan Securities, LLC (exclusive financial advisor to Robinhood), Davies Ward Phillips & Vineberg LLP (legal counsel to Robinhood), FT Partners (financial advisor to WonderFi), and Canaccord Financial (fairness opinion provider). Multiple legal and regulatory advisors supported both parties throughout the process, ensuring compliance and transparency.

Frequently Asked Questions (FAQ)

Q: Will Bitbuy and Coinsquare still operate after the acquisition?
A: Yes. Both platforms will continue operating under their current brands. Users should expect business as usual, with future enhancements driven by Robinhood’s technology and resources.

Q: Is this acquisition beneficial for Canadian crypto users?
A: Absolutely. The combination brings together trusted local platforms with a global innovator, resulting in better tools, lower costs, improved security, and expanded product offerings like staking and advanced trading features.

Q: How does this affect WonderFi shareholders?
A: Shareholders will receive C$0.36 per common share in cash—a significant premium over recent trading prices—providing immediate liquidity and value recognition for their investment.

Q: Does this mean Robinhood will launch its U.S.-style app in Canada?
A: While no official timeline has been announced, Robinhood plans to leverage WonderFi’s existing infrastructure to gradually introduce new features aligned with its global platform, tailored for Canadian regulations and user preferences.

Q: What happens to WonderFi employees?
A: Employees will join Robinhood Crypto, preserving jobs and fostering growth within the expanded organization. The leadership team will stay on board to ensure smooth integration.

Q: Could this lead to more international acquisitions?
A: While not confirmed, this deal signals Robinhood’s intent to expand globally through strategic partnerships and acquisitions in regulated markets.

Looking Ahead: Building a Global Crypto Ecosystem

This acquisition isn't just about market entry—it's about long-term ecosystem development. By combining WonderFi’s local credibility with Robinhood’s scale and innovation capacity, the merged entity is positioned to become a dominant force in Canada’s digital asset landscape.

As crypto adoption accelerates worldwide, regulatory alignment, user trust, and technological resilience are critical success factors. With this move, Robinhood reinforces its commitment to responsible innovation and inclusive finance.

👉 Stay ahead of the next wave of crypto evolution—explore future possibilities today.

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