Robinhood Acquires Canadian Crypto Firm WonderFi for C$250 Million

Published 2 hours agoHOOD

Robinhood Acquires Canadian Crypto Firm WonderFi for C$250 Million

Robinhood has announced its acquisition of Canadian cryptocurrency firm WonderFi Technologies for C$250 million, equivalent to about $179 million. This all-cash deal, as reported by Reuters, represents a 41% premium over WonderFi's last closing price. The acquisition underscores Robinhood's strategic focus on expanding its presence in the international and cryptocurrency markets.

WonderFi owns prominent Canadian crypto exchanges Bitbuy and Coinsquare, which saw trading volumes exceed C$3.57 billion in the fiscal year 2024, reflecting a 28% year-over-year increase. Robinhood plans to integrate WonderFi’s entire team into its operations in Canada, where it already employs more than 140 people.

This acquisition is part of a broader increase in cryptocurrency sector mergers and acquisitions, including notable deals like Coinbase's $2.9 billion purchase of Deribit and Ripple's $1.25 billion acquisition of Hidden Road. These activities highlight a resurgence in the crypto sector under President Donald Trump's administration.

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