Robinhood’s $250M WonderFi Buyout Shakes Canadian Crypto Landscape

Investment platform Robinhood Markets is expanding into Canada with its latest acquisition. The company announced on May 13, 2025, that it’s buying WonderFi Technologies in an all-cash deal worth $250 million Canadian dollars (US$179 million).

Robinhood pushes north with $179M WonderFi deal, marking its first major step into Canada’s growing crypto market.

The deal values WonderFi at $0.36 per share, giving investors a 41% premium over the company’s closing price. This price is even better compared to WonderFi’s average price over the past month, offering a 71% premium.

WonderFi, founded in 2021 and based in Toronto, operates regulated cryptocurrency platforms in Canada. The company owns Bitbuy and Coinsquare, two popular Canadian crypto trading services. It also runs SmartPay, which helps businesses accept crypto payments, and is developing new blockchain products through WonderFi Labs.

For Robinhood, this move creates a path into the growing Canadian crypto market. Cassels is providing legal counsel to WonderFi throughout the acquisition process. The company has been looking to expand globally beyond its U.S. home base. By adding WonderFi’s services, Robinhood can bring its low-cost trading approach to Canadian customers.

The deal still needs approval from regulators and WonderFi shareholders. If all goes as planned, the companies expect to complete the transaction in the second half of 2025. Robinhood will use its existing cash to pay for the purchase.

After the acquisition, WonderFi will become part of Robinhood’s cryptocurrency division. The acquisition aligns perfectly with Robinhood’s vision of building a global financial ecosystem. The Canadian company’s leadership team and employees will join Robinhood but continue working from Toronto. WonderFi’s services will keep running after the deal closes.

This purchase follows a trend of consolidation in the crypto exchange industry. For Robinhood, it’s a significant step in building what it calls a “global financial ecosystem.”

The move comes as Canada’s cryptocurrency market shows promising growth potential. By combining forces, Robinhood and WonderFi aim to offer improved trading, staking, and custody services for both new and experienced crypto users in Canada.