Big Move North: Robinhood Buys WonderFi
Robinhood is going global — and it’s starting with Canada. The U.S. brokerage giant announced on May 13 that it will acquire WonderFi in an all-cash deal worth $179 million, or 250 million Canadian dollars, as it looks to expand its crypto footprint internationally.
The deal is expected to close in Q2 2025, pending shareholder, regulatory, and court approvals.
WonderFi is no newcomer — the Canadian firm operates Bitbuy and Coinsquare, two of the country's longest-standing regulated crypto platforms, with over CA$2.1 billion in assets under custody. Their services span trading, staking, and custody — making it a perfect fit for Robinhood’s expansion ambitions.
Robinhood has signed an agreement to acquire @WonderFi, a Canadian leader in crypto products.
— Robinhood (@RobinhoodApp) May 13, 2025
We’re excited to partner with WonderFi to accelerate Robinhood’s mission in Canada.
More details: https://t.co/B2ygTDYOPw pic.twitter.com/9u1c0vJeWV
Robinhood has signed an agreement to acquire @WonderFi, a Canadian leader in crypto products.
— Robinhood (@RobinhoodApp) May 13, 2025
We’re excited to partner with WonderFi to accelerate Robinhood’s mission in Canada.
More details: https://t.co/B2ygTDYOPw pic.twitter.com/9u1c0vJeWV
Deal Details: A Strong Premium for WonderFi
Robinhood is offering CA$0.36 per share, representing:
- A 41% premium over WonderFi’s last closing price on the Toronto Stock Exchange
- A 71% premium over its 30-day VWAP
Before the acquisition was announced, WonderFi’s market cap was CA$163.9 million, with shares down 13.6% year-to-date.
WonderFi processed CA$3.57 billion in trading volume in 2024, a 28% increase over the previous year, proving it has growth momentum.
Robinhood Rides the 2025 Crypto M&A Wave
Robinhood’s WonderFi grab comes amid a surge in crypto mergers and acquisitions, fueled by friendlier U.S. regulations under President Trump.
Here are some headline M&A deals so far this year:
- Coinbase snapped up Deribit for $2.9 billion.
- Ripple acquired Hidden Road for $1.25 billion.
- Kraken closed a deal for NinjaTrader, expanding into U.S. futures and derivatives.
Robinhood itself has been active:
- In 2024, it bought Bitstamp for $200 million, boosting U.S. institutional services.
- On May 7, it was reported to be building a blockchain-based trading platform to let European retail investors trade U.S. securities.
This WonderFi deal further cements Robinhood’s international ambitions, particularly in the regulated Canadian crypto market — a move that could serve as a blueprint for further global crypto expansion.
