Robinhood has introduced plans to accumulate Canada-based decentralized buying and selling platform WonderFi.
The all-cash deal is predicted to shut for $179 million.
The acquisition will assist Robinhood transfer into the Canadian market.
Digital inventory brokerage app Robinhood plans to accumulate decentralized buying and selling platform WonderFi in an all-cash deal totaling $178.56 million (CA$250 million). The deal is predicted to shut within the second half of this 12 months.
WonderFi was based in 2021 to assist democratize entry to digital belongings. The corporate, which operates regulated cryptocurrency buying and selling platforms Bitbuy and Coinsquare, serves each novice and skilled traders. Amongst WonderFi’s companies are crypto buying and selling and staking, investor schooling, and over-the-counter transactions. Headquartered in Vancouver, Canada, WonderFi processed over $2.56 billion (C$3.57 billion) in crypto buying and selling volumes final 12 months, a 28% improve over the amount it processed in 2023.
“By means of a protracted and targeted effort, WonderFi efficiently constructed considered one of Canada’s largest registered Crypto-Buying and selling platforms,” stated WonderFi Govt Chairman Bobby Halpern. “This transaction is the fruits of these efforts and the launchpad for Robinhood to democratize finance throughout Canada. The association supplies WonderFi shareholders with all-cash consideration at a pretty premium to our latest buying and selling ranges.”
Robinhood will purchase all WonderFi shares for $0.25 (C$0.36) per share. The acquisition value represents a premium of roughly 41% to the closing value of the frequent shares on the Toronto Inventory Alternate on Could 12, 2025, and roughly a 71% premium to the 30-day volume-weighted common buying and selling value.
California-based Robinhood launched its commission-free, mobile-first buying and selling platform in 2013 to draw the most recent technology of traders. The corporate’s app allows customers to commerce shares, ETFs, choices, and cryptocurrencies, and likewise affords wealth administration, retirement accounts, and banking companies. Robinhood serves greater than 25 million clients with $193 billion in belongings underneath custody.
Robinhood will leverage WonderFi to speed up its worldwide growth, offering it with entry to WonderFi’s over 1.6 million registered Canadian customers and greater than $717 million (C$1 billion) in belongings underneath custody. Whereas Robinhood doesn’t serve any Canadian clients, right now’s acquisition will permit it to leverage WonderFi’s infrastructure, licensing, and expertise navigating the Canadian regulatory surroundings.
“WonderFi and Robinhood are united in our visions of creating crypto accessible and bringing extra folks into the crypto house,” stated WonderFi President and CEO Dean Skurka. “We’re delighted to be becoming a member of the Robinhood staff and to super-charge our product choices for purchasers.”
At the moment’s acquisition isn’t Robinhood’s first transfer into worldwide markets. The corporate formally launched its buying and selling platform within the UK on November 30, 2023 and doubled-down on its operations within the area after buying European trade Bitstamp for $200 million in June of 2024.
Picture by Andre Furtado
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