Robinhood Enters Canada by Taking Over Crypto Exchange WonderFi for $179M

May 13, 2025

in Breaking, News

Reading Time: 7 mins read

BTC

$103,735.73

–

0.62%

ETH

$2,525.67

–

1.30%

USDT

$1.0001

0.01%

XRP

[Action required] Your RSS.app Trial has Expired.

Binance Australia Restores Direct Bank and PayID Transfers for User

Trove Investors Seek Refunds After Perps Pivot to Solana

Nasdaq Tells Canaan to Boost Share Price or Face Delisting

$2.5430

–

2.12%

BNB

$654.61

–

3.97%

SOL

$174.45

–

2.85%

USDC

$1.0000

0.01%

DOGE

$0.2288

–

4.54%

ADA

$0.8045

–

4.90%

TRX

$0.2655

–

4.64%

SUI

$4.0070

–

2.50%

LINK

$16.73

–

3.72%

AVAX

$24.72

–

3.13%

XLM

$0.3092

–

5.73%

SHIB

$0.0₄1571

–

5.37%

HBAR

$0.2101

–

6.89%

HYPE

$25.35

–

0.07%

TON

$3.2897

–

7.11%

BCH

$402.83

–

3.08%

$1.1204

–

14.31%

Finance

Share this article

By Omkar Godbole|Edited by Sheldon Reback

Updated May 13, 2025, 12:42 p.m. Published May 13, 2025, 11:54 a.m.

Robinhood Markets agreed to buy Canadian crypto firm WonderFi for $178.98 million.
The deal values WonderFi shares at a 41% premium over their previous closing price.
WonderFi’s platforms, Bitbuy and Coinsquare, bolster Robinhood’s international expansion efforts in the crypto market.

Robinhood Markets (HOOD), the California-based financial services company, said Tuesday it agreed to buy Canadian crypto firm WonderFi (WNDR) for $178.98 million.

The all-cash acquisition values WonderFi at 36 Canadian cents per share, a 41% premium over its closing price prior to the announcement.

STORY CONTINUES BELOW

Don’t miss another story.Subscribe to the Crypto Daybook Americas Newsletter today.See all newslettersBy signing up, you will receive emails about CoinDesk products and you agree to ourterms of useandprivacy policy.

“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, in the official announcement.

Robinhood, a popular commission-free brokerage platform, has been looking to expand its international footprint for some time and struck a deal to acquire cryptocurrency exchange Bitstamp last year.

The latest acquisition will help it win over Canada-based customers. Toronto-listed WonderFi owns and operates Bitbuy and Coinsquare, two leading domestic crypto platforms in the Canadian market. Trading volumes on WonderFi increased 28% to C$3.57 billion in fiscal 2024.

The deal will bring Robinhood into Canada, ramping up competition for exchanges such as Coinbase and Wealthsimple Crypto.

Crypto merger and acquisition activity has picked up the pace with the U.S. President Donald Trump adopting a crypto-friendly approach. Last Week, Nasdaq-listed Coinbase made a bold bet on digital assets derivatives segment, acquiring crypto options giant Deribit in a landmark $2.9 billion deal.

Omkar Godbole is a Co-Managing Editor on CoinDesk’s Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.