Robinhood Markets, Inc. made a significant move in the Canadian crypto sector by announcing its acquisition of WonderFi for C$250 million (US$178.56 million) on May 13. WonderFi, as one of Canada’s top regulated digital asset platforms with over C$2.1 billion in assets under custody, has established itself as a key player in the country’s crypto landscape.
The acquisition will see WonderFi continue its operations while integrating its leadership and employees into Robinhood Crypto. This strategic move aligns with Robinhood’s goal of building a global financial ecosystem, with Canada serving as a crucial hub for their expansion.
The user-centric and cost-effective platform of Robinhood resonates with WonderFi’s mission of democratizing access to crypto. Johann Kerbrat, SVP and GM of Robinhood Crypto, highlighted the synergies between the two companies, emphasizing WonderFi as an ideal partner to drive Robinhood’s mission forward in Canada.
Following the acquisition, WonderFi shareholders will receive an all-cash consideration of C$0.36 per share, representing a total equity value of approximately C$250 million. Dean Skurka, President and CEO of WonderFi, expressed enthusiasm about joining forces with Robinhood, stating that the partnership will enhance their product offerings for customers. Bobby Halpern, Executive Chairman of WonderFi, sees the all-cash offer as a culmination of years of development, setting the stage for further growth under Robinhood.
The purchase price of the acquisition represents a 41% premium to WonderFi’s closing share price on the Toronto Stock Exchange as of May 12, 2025, and a 71% premium to the 30-day volume-weighted average price. The deal is expected to close in the second half of 2025, pending shareholder, court, and regulatory approvals.
In a separate development, Robinhood is in the process of developing a blockchain-based platform that will enable retail investors in Europe to trade U.S. securities, including stocks. The initiative, likely to be launched in partnership with a digital-asset firm, aligns with the trend of tokenizing securities in the financial industry.
Overall, Robinhood’s acquisition of WonderFi marks a significant milestone in the Canadian crypto landscape, showcasing the company’s commitment to expanding its global reach and offering innovative financial solutions to users worldwide.