Robinhood to Purchase Canadian Crypto Firm WonderFi
Robinhood has announced plans to acquire WonderFi, a leading Canadian fintech and crypto platform, for $178.9 million (250 million CAD). The acquisition involves purchasing WonderFi’s shares at $0.26 (0.36 CAD) each.
Revealed on May 13, this move marks a significant step in Robinhood’s expansion into the Canadian cryptocurrency market.
The purchase will be financed with cash, and the acquisition is anticipated to close in the second half of 2025, subject to regulatory, court, and shareholder approvals.
WonderFi currently manages over 2.1 billion CAD in custodied assets and operates two Canadian-regulated digital asset exchanges, Bitbuy and Coinsquare. In 2024, the platform achieved a trading volume of 3.57 billion CAD and revenues of 62.1 million CAD.
