Investing.com - Robinhood Markets Inc. (NASDAQ:HOOD), the U.S.-based financial services company, has announced its plan to purchase WonderFi, a Canadian digital asset company known for its crypto platforms Bitbuy and Coinsquare. The all-cash deal is valued at roughly C$250 million, with shareholders receiving C$0.36 per common share, which is a 41% premium over the May 12, 2025, closing price on the Toronto Stock Exchange.
WonderFi has been recognized for its role in the Canadian cryptocurrency market, managing over C$2.1 billion in assets. This acquisition aligns with Robinhood’s strategy to expand its global financial ecosystem, particularly by entering the rapidly growing Canadian crypto sector. The integration of WonderFi’s technologies will enhance Robinhood’s offerings in crypto trading, staking, and custody services.
Johann Kerbrat, SVP and GM of Robinhood Crypto, emphasized the compatibility of the two companies’ goals, noting that WonderFi’s brand strength and customer base make it an ideal partner for Robinhood’s expansion in Canada. Dean Skurka, WonderFi President and CEO, echoed this sentiment, expressing enthusiasm about joining forces with Robinhood to increase crypto accessibility.
The transaction, which is expected to close in the second half of 2025, is subject to regulatory approvals, court approval, and the green light from WonderFi’s shareholders. The acquisition will be financed using Robinhood’s cash reserves.
Following the acquisition, WonderFi will maintain its operational independence, with its leadership team becoming part of Robinhood Crypto. The WonderFi staff will join Robinhood’s existing Canadian workforce, which has grown since establishing its Toronto headquarters in 2024.
This move is part of Robinhood’s broader initiative to democratize finance, mirroring its efforts in the U.S. and select EU countries. The acquisition is based on a statutory plan of arrangement under the Business Corporations Act (British Columbia).
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