Robinhood’s Global Crypto Expansion: Acquiring WonderFi for $179M

In a significant move to bolster its global crypto presence, brokerage giant Robinhood has announced the acquisition of Canadian crypto firm WonderFi for approximately $179 million (CAD 250 million) in an all-cash transaction. This strategic acquisition, expected to close in the second half of 2025, positions Robinhood to tap into the thriving Canadian crypto market.

WonderFi, a prominent player in the Canadian crypto landscape, operates Bitbuy and Coinsquare, two of Canada’s longest-running regulated crypto trading platforms. With over CAD 2.1 billion in assets under custody, these platforms provide a comprehensive suite of services including trading, staking, and custody solutions for both novice and experienced crypto users.

“WonderFi’s established brands and user base make them an ideal partner to accelerate Robinhood’s mission in Canada,” stated Johann Kerbrat, Robinhood Crypto’s senior vice president and general manager. The acquisition price represents a 41% premium over WonderFi’s last closing price on the Toronto Stock Exchange and a substantial 71% premium over its 30-day volume-weighted average price.

Prior to the acquisition, WonderFi held a market capitalization of CAD 163.9 million. The deal is contingent upon customary closing conditions, including regulatory and court approvals, and shareholder ratification.

Source: Robinhood

Related: Robinhood Beats Q1 Estimates Despite Revenue Dip

Crypto M&A Activity Heats Up

Robinhood’s acquisition of WonderFi reflects a broader trend of heightened M&A activity in the cryptocurrency sector throughout 2025, driven in part by evolving regulatory landscapes. This wave of consolidation includes notable deals such as Coinbase’s acquisition of Deribit and Ripple’s acquisition of Hidden Road. Furthermore, Robinhood’s own acquisition spree in recent years demonstrates its aggressive growth strategy in the crypto space.

WonderFi’s strong 2024 performance, processing CAD 3.57 billion in trading volume (a 28% year-over-year increase), further underscores the strategic value of this acquisition for Robinhood’s global ambitions.

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