Robinhood is set to acquire Canadian crypto firm WonderFi in a C$250 million all-cash deal, as the U.S. trading app continues its push into international markets. WonderFi operates major Canadian platforms Bitbuy and Coinsquare, which together manage over C$2.1 billion in assets under custody.
The acquisition marks a significant move for Robinhood as it aims to scale its presence in one of the fastest-growing crypto markets globally. The deal, which values WonderFi shares at C$0.36—representing a 41% premium over its May 12 closing price—is expected to close in the second half of 2025.
WonderFi’s team will integrate into Robinhood’s existing Canadian operations, which already include more than 140 staff at its Toronto-based engineering hub established in 2024.
“WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike, making them an ideal partner to accelerate Robinhood’s mission in Canada,” said Johann Kerbrat, SVP and GM of Robinhood Crypto.
This strategic acquisition aligns with Robinhood’s broader ambition to build a “global financial ecosystem,” extending its crypto capabilities and customer base beyond the U.S.