- Robinhood acquired WonderFi for $179M in cash, gaining access to Bitbuy and Coinsquare.
- WonderFi processed over C$3.57B in crypto trades in 2024, up 28% from the previous year.
- The WonderFi deal gives Robinhood a significant entry point into Canada’s crypto market.
Robinhood said that it has acquired the cryptocurrency platform WonderFi Technologies Inc. in Canada. The deal is worth C$250 million, which is approximately $179 million. In this transaction, Robinhood will develop its crypto activities in new markets and provide users with more services to select from.
The transaction was confirmed on May 13, 2025. WonderFi shareholders will receive 36 Canadian cents per share, a 41% premium on the last closing price. This acquisition will be paid for in cash as Robinhood continues to expand its crypto business using strategic buys.
Robinhood Expands Global Crypto Strategy
This acquisition follows Robinhood’s previous purchase of the crypto exchange Bitstamp for $200 million. The company has clearly displayed plans to diversify from stock trading to new international markets and venture into the digital asset space more.
WonderFi brings immense value to Robinhood’s portfolio. Famous crypto brands that have a presence in the Canadian market are Bitbuy and Coinsquare. WonderFi handled a combined volume of crypto trading of more than $3.57 billion during the fiscal year 202,4, as against 28 % less than a year before. This growth reflects well on the platform’s standing in the Canadian digital asset sector.
Robinhood’s management believes that there is a good match because of WonderFi’s user-oriented platform. This company targets both new and experienced traders, which corresponds to Robinhood’s overall approach to targeting a large portion of the target audience, i.e., various financial consumers. Johann Kerbrat, Robinhood Crypto’s Senior Vice President and General Manager, said that WonderFi’s customer base diversity and track record of trading volume attracted it as an acquisition candidate.
Crypto Industry Sees Rising Mergers in 2025
Robinhood’s acquisition follows a growing trend of consolidation of players in the cryptocurrency world. Other leading firms have also been on a mergers and acquisitions spree this year, seeking to grow market share and strengthen infrastructure. In the recent past, Coinbase acquired Deribit through a $2.9 billion deal, and Ripple made $1.25 billion in purchases of a brokerage firm, Hidden Road.
The crypto industry is experiencing a rise in investor confidence as regulatory clarity is brought in. With the Trump administration of the United States being more lenient on digital assets, firms are not loitering to place themselves in the leading markets.
Robinhood’s expansion makes the acquisition of WonderFi necessary to increase its competitiveness in North America. This is a statement of intent to establish a global digital asset platform and equip customers with secure and scalable solutions for crypto-trading.
