Robinhood to Buy WonderFi in C$250M Deal

Robinhood has agreed to acquire Canadian crypto platform WonderFi Technologies in an all-cash deal valued at C$250 million (US$178-179 million), offering WonderFi shareholders C$0.36 per share—a 41% premium over its pre-announcement price. WonderFi, which operates the regulated exchanges Bitbuy and Coinsquare, brings over C$2.1 billion in assets under custody and 1.6 million registered users. The acquisition, expected to close in the second half of 2025 pending regulatory and shareholder approvals, marks Robinhood's formal entry into Canada’s regulated crypto market. Analysts estimate the deal could add up to $250 million in annual revenue for Robinhood and expand its user base by 13%. Robinhood will retain WonderFi’s products, staff, and leadership, integrating them into its Toronto headquarters. The move has been praised by investors like Kevin O’Leary for its potential to enhance cross-border trading and reduce transaction costs.