Robinhood to Buy Canadian Crypto Trading Platform WonderFi
By: ihodl|2025/05/14 09:30:06
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Robinhood Markets, part of financial services giant Robinhood, is set to acquire WonderFi Technologies, a Canadian cryptocurrency trading platform, in an all-cash transaction valued at C$250 million (approximately US$179 million). This acquisition represents an important step in Robinhood's cryptocurrency expansion in Canada. The deal sets WonderFi's share price at C$0.36 each, which offers a 41% premium over its May 12 closing price on the Toronto Stock Exchange and a 71% premium over the 30-day volume-weighted average trading price, Robinhood and WonderFi announced Tuesday. WonderFi operates registered platforms such as Bitbuy, Coinsquare and SmartPay, and currently manages more than C$2.1 billion in client assets under custody. WonderFi's management team will remain in place and will continue to operate under Robinhood Crypto, with plans to enhance cryptocurrency offerings for Canadian users.
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