Popular Fintech company Robinhood just took a huge step in the Canadian crypto world. The U.S.-based trading app announced it’s buying WonderFi, Canada’s largest crypto platform, in a deal worth nearly C$250 million (about US$179 million).
Why WonderFi?
WonderFi is no small catch. The company operates Bitbuy and Coinsquare, two of Canada’s leading cryptocurrency exchanges. Together, these platforms boast over 1.7 million users and processed more than C$3.6 billion in trading volume in fiscal year 2024, a 28% increase from the previous year.
With over C$2.4 billion in customer assets under custody, WonderFi has become a household name for Canadian crypto investors. This acquisition gives Robinhood a direct pipeline into one of the most active and regulated crypto markets outside the U.S. It could change the crypto trading landscape in North America.
Details Of The Deal
Robinhood will pay a 41% premium over WonderFi’s last closing stock price, a sign of how seriously it values the Canadian platform.
Once the acquisition is complete, Robinhood plans to integrate WonderFi’s operations fully, including keeping its existing team. This will bring the total number of Robinhood employees in Canada to over 140, reflecting the company’s commitment to building a long-term presence in the region.
“WonderFi and Robinhood are united in our visions of making crypto accessible and brining more people into the crypto space,” says Dean Skurka, President and CEO of WonderFi.
He adds that their joining the Robinhood team will help supercharge their product offerings. The CEO also posted about the acquisition on LinkedIn.
It’s noteworthy that this transaction is still subject to court approval, regulatory approvals, and approval from WonderFi shareholders. It is expected to round up later in 2025.
What This Update Means for Crypto’s Future
Robinhood’s acquisition of WonderFi isn’t happening in a vacuum. It’s part of a wider trend of crypto consolidation that’s heating up in 2025, especially since President Trump’s inauguration..
Recently, Coinbase acquired Deribit for $2.9 billion, and Ripple made headlines with its $1.25 billion purchase of Hidden Road. As regulatory clarity improves and user interest rebounds, companies are moving fast to scale their operations and solidify their place in the next wave of digital finance.
For Robinhood, this deal signals a serious push beyond the U.S. and a strong bet on crypto’s staying power. The company, which introduced crypto trading in 2018, has steadily expanded its offerings and aims to be a global leader in the crypto space.
It passes the message that Robinhood is no longer content to be a U.S.-centric trading app. With WonderFi under its belt, the company is positioning itself as a major force in global crypto trading, starting with one of the most active markets in North America.
