The American investment platform Robinhood has announced a deal to acquire WonderFi Technologies Inc for 250 million Canadian dollars (CAD), which is equivalent to nearly 179 million US dollars. The completion of the deal is scheduled for the second half of 2025.
This is reported by Finway
WonderFi operates two of the oldest registered cryptocurrency exchanges in Canada: Bitbuy and Coinsquare, which have assets under management exceeding 2.1 billion CAD, equivalent to more than 1.5 billion US dollars. The total deal amount includes a 41% premium to the closing stock price as of May 12, 2025, and a 71% premium to the average price over the last 30 days.
“WonderFi has built a strong ecosystem of brands for both novice and experienced crypto users, making it an ideal partner to accelerate our mission in Canada,” said Johann Kerbrat, Senior Vice President and CEO of Robinhood Crypto’s subsidiary.
As part of the deal, the buyout price will be 0.36 CAD ($0.26) per share, and WonderFi shareholders will receive full cash compensation. The deal is expected to be completed after approval from regulators and shareholders.
“WonderFi and Robinhood share a common vision — to make cryptocurrencies accessible and appealing to a wide range of users,” said Dean Skurka, President and CEO of WonderFi.
WonderFi’s Executive Chairman Bobby Halpern also noted that the deal is “the culmination of efforts and a launching pad for Robinhood in Canada.” According to the company, Robinhood already has an infrastructure hub in Toronto with over 140 employees. All WonderFi products will continue to operate after the deal is finalized, and the WonderFi management team will join Robinhood Crypto to support the local market.
It is worth noting that Robinhood already offers crypto products in select EU countries, and in January of this year, the company announced a partnership with CME Group for futures trading.