Robinhood Markets, Inc. is set to make a major entrance into the Canadian crypto landscape through the acquisition of WonderFi Technologies Inc., one of the country’s leading digital asset firms.
The deal, announced Monday, will see Robinhood acquire all of WonderFi’s outstanding common shares in an all-cash transaction valued at approximately C$250 million.
This deal marks a major step in Robinhood’s push into global crypto, adding WonderFi’s entire lineup of platforms — including Bitbuy and Coinsquare — to its portfolio. Both platforms are among the oldest and most established regulated crypto exchanges in Canada, managing over C$2.1 billion in assets under custody.
Robinhood will pay C$0.36 per WonderFi share through a statutory plan of arrangement under British Columbia’s corporate laws. That price represents a 41% premium to WonderFi’s last closing price on the Toronto Stock Exchange and a 71% premium over its 30-day volume-weighted average.
The acquisition is expected to close in the second half of 2025, pending shareholder approval, court sign-off, and regulatory clearance.
“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, Senior Vice President and General Manager of Robinhood Crypto. “We look forward to partnering with the WonderFi team to deliver innovative, user-centric crypto products to Canadian customers.”
With the Canadian crypto market among the fastest-growing globally, Robinhood sees the country as a natural next step in its international expansion. The company opened its Canadian headquarters in Toronto last year, positioning it as a key infrastructure engineering hub and tapping into the country’s deep tech talent pool.
Robinhood, best known for disrupting retail stock trading in the U.S., has recently been expanding its crypto offerings abroad. Its crypto platform is already live in select European Union countries, and the company says it’s working toward building a comprehensive, global financial ecosystem.
“WonderFi and Robinhood are united in our visions of making crypto accessible and bringing more people into the crypto space,” said WonderFi President and CEO Dean Skurka. “We’re delighted to be joining the Robinhood team and to super-charge our product offerings for customers.”
Once the deal is finalized, WonderFi will keep running its existing platforms. Its leadership team will stay on and become part of Robinhood Crypto, helping ensure a smooth transition while continuing to serve Canadian users with their local expertise.
“Through a long and focused effort, WonderFi successfully built one of Canada’s largest registered crypto-trading platforms,” added Bobby Halpern, Executive Chairman of WonderFi. “This transaction is the culmination of those efforts and the launchpad for Robinhood to democratize finance across Canada.”
Robinhood will fund the acquisition using cash on hand and emphasized its strong track record of executing international deals. With more than 140 employees already on the ground in Canada, Robinhood’s acquisition of WonderFi will further strengthen its local footprint and deepen its commitment to the Canadian market.
Deal Advisors
Robinhood was advised by J.P. Morgan Securities, LLC as its exclusive financial advisor, with legal counsel provided by Davies Ward Phillips & Vineberg LLP. Legal counsel was provided by Davies Ward Phillips & Vineberg LLP. On WonderFi’s side, Financial Technology Partners (FT Partners) acted as the lead financial advisor.
Canaccord Financial and Origin Merchant Partners each provided fairness opinions. Goodmans LLP advised WonderFi’s special committee, with Cassels Brock & Blackwell LLP and Mintz LLP handling legal and regulatory matters, respectively.
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