Robinhood To Acquire WonderFi for $178M at 41% Premium – Canada Crypto Power Play

Robinhood Markets, Inc. jolted Canada’s crypto sector on May 13 by signing an agreement to acquire WonderFi, one of Canada’s leading regulated digital asset platforms for C$250 million (US$178.56 million).

With over C$2.1 billion in assets under custody and a strong portfolio that includes Bitbuy and Coinsquare, WonderFi has positioned itself as a key player in Canada’s crypto sector.

Post-acquisition, WonderFi will continue operating its existing products, while its leadership and employees will integrate into Robinhood Crypto . The deal marks a milestone in Robinhood’s ongoing effort to build a global financial ecosystem, with Canada serving as a strategic hub.

Robinhood’s user-centric, low-cost platform aligns closely with WonderFi’s mission of broadening access to crypto. Johann Kerbrat, SVP and GM of Robinhood Crypto, emphasized the synergy between the two companies, calling WonderFi “an ideal partner to accelerate Robinhood’s mission in Canada.”

Robinhood’s Canadian headquarters, established in Toronto in 2024, already hosts over 140 employees and serves as an infrastructure engineering hub.

WonderFi Shareholders to Receive All-Cash Consideration

Under the terms of the agreement, Robinhood will acquire all issued and outstanding common shares of WonderFi for C$0.36 per share in cash.

This will be executed through a statutory plan of arrangement under British Columbia’s Business Corporations Act. The total equity value of the deal stands at approximately C$250 million on a fully diluted, in-the-money basis.

WonderFi President and CEO Dean Skurka expressed confidence in the alignment of the companies’ missions.

“We’re delighted to be joining the Robinhood team and to supercharge our product offerings for customers,” he said. Bobby Halpern, Executive Chairman of WonderFi, added that the all-cash offer represents the culmination of years of development, creating a launchpad for further growth under Robinhood.

Purchase Price Represents a 41% Premium

The purchase price reflects a 41% premium to WonderFi’s closing share price on the Toronto Stock Exchange as of May 12, 2025, and a 71% premium to the 30-day volume-weighted average price.

The deal is expected to close in the second half of 2025, subject to shareholder, court, and regulatory approvals.

J.P. Morgan advised Robinhood, while Financial Technology Partners advised WonderFi, and received legal and fairness-opinion support from several prominent Canadian firms.

Robinhood Plans Blockchain-Based Trading for Europe

Robinhood is developing a blockchain-based platform that will allow retail investors in Europe to trade U.S. securities, including stocks.

The initiative will likely be launched in partnership with a digital-asset firm. Both Arbitrum, a blockchain overlaid on Ethereum, and Solana have been under consideration for the collaboration, though discussions are still ongoing. This move to offer tokenized U.S. securities aligns with a broader trend in the financial industry.