Robinhood Acquires WonderFi Technologies in a C$250 Million All-Cash Deal

Robinhood has agreed to acquire WonderFi Technologies in an all-cash deal valued at C$250 million or approximately $179 million. The deal signals Robinhood's strategic push into Canada's regulated crypto market as part of its global expansion.

TLDR;

* After rumors swirled for months, Robinhood has agreed to acquire WonderFi Technologies in an all-cash deal valued at C$250 million ($179 million).

* The deal will see Robinhood acquire all of WonderFi's subsidiaries, including Bitbuy, Coinsquare and SmartPay, which together manage over C$2.1 billion in client assets.

* WonderFi's employees, including its compliance and product development teams, will join Robinhood and expand the company's Canadian workforce.

* The acquisition price of C$0.36 per share represents a 41% premium over WonderFi's May 12 closing price and a 71% premium to its 30-day volume-weighted average trading price.

* The transaction will be voted on by WonderFi shareholders at a special meeting to be held in July 2025, with closing expected in the second half of 2025, pending regulatory approval.

* If approved, the move will mark Robinhood's official entry into Canada's retail crypto trading market through a fully operational and compliant platform.

* WonderFi will continue operating as part of Robinhood's crypto division, with its current executives remaining in their roles.

* The integration aims to preserve service continuity for existing users and expand platform capabilities, ultimately boosting product innovation and development across all crypto verticals.

* Advisors involved in the deal include JPMorgan Securities for Robinhood and Financial Technology Partners for WonderFi.

* The transaction comes amid a broader wave of consolidation in the global crypto sector, with Coinbase, Kraken and Ripple also making significant acquisitions in recent months.

* The move follows Robinhood's recent agreement to buy European exchange Bitstamp for €150 million ($200 million).

* Both companies confirmed the transaction, which is expected to close in the second half of 2025, pending shareholder and regulatory approval.

* The acquisition will see Robinhood pay a premium of 41% to WonderFi's May 12, 2025 closing share price and 71% to its 30-day volume-weighted average trading price.

* This integration will expand Robinhood's presence in Canada's regulated crypto market as part of its broader global expansion plans.

* The deal will also create a combined entity with significant scale and deep expertise in operating and integrating digital asset platforms.

* After the acquisition, WonderFi will become part of Robinhood's crypto division, with its executives remaining in their roles and employees joining the broader Robinhood team.

* The integration is designed to preserve service continuity for existing users and expand platform capabilities, ultimately boosting product innovation and development across all crypto verticals.

* The transaction is expected to be paid in full by Robinhood, with no new equity securities being issued in the transaction.

* The transaction will be voted on by WonderFi shareholders at a special meeting to be held in July 2025.

* The deal is expected to close in the second half of 2025, pending necessary regulatory approvals.

* If approved, the move will mark Robinhood's official entry into Canada's retail crypto trading market through a fully operational and compliant platform.

* WonderFi will continue operating as part of Robinhood's crypto division, with its current executives remaining in their roles and employees joining the broader Robinhood team.

* The integration aims to preserve service continuity for existing users and expand platform capabilities, ultimately boosting product innovation and development across all crypto verticals.

* Advisors involved in the deal include JPMorgan Securities for Robinhood and Financial Technology Partners for WonderFi.

* Legal counsel was provided by Davies Ward Phillips & Vineberg for Robinhood, and Cassels Brock & Blackwell and Mintz for WonderFi.

* The transaction comes amid a broader wave of consolidation in the global crypto sector, with Coinbase, Kraken and Ripple also making significant acquisitions in recent months.