Acquisition of Canadian Crypto Firm Marks Latest Step in Robinhood’s International and Digital Expansion Strategy
Robinhood (HOOD) announced on Tuesday that it will acquire Canadian cryptocurrency platform WonderFi for C$250 million ($179 million USD) in an all-cash deal, marking the latest move in the brokerage’s aggressive push into the global digital asset space.
The acquisition values WonderFi at 36 Canadian cents per share, representing a 41% premium over its most recent closing price on the Toronto Stock Exchange. The deal underscores Robinhood’s ambitions to expand its international presence and broaden its crypto capabilities.
Robinhood, which began as a commission-free stock trading platform, has been steadily transforming into a full-fledged financial services provider. With this acquisition, the company strengthens its reach in Canada—a key international market—and enhances its ability to serve both beginner and advanced crypto users through WonderFi’s brands, including Bitbuy and Coinsquare.
“WonderFi’s focus on both beginner and advanced crypto users makes it an ideal partner,” said Johann Kerbrat, Senior Vice President and General Manager of Robinhood Crypto.
WonderFi reported over C$3.57 billion in crypto trading volume for fiscal year 2024, a 28% increase over the prior year, demonstrating steady user engagement and market traction. However, its stock had declined 13.6% year-to-date in 2025 prior to the deal announcement, giving it a market capitalization of C$163.9 million.
Robinhood’s acquisition strategy has been central to its efforts to grow user engagement. In 2024, the firm purchased crypto exchange Bitstamp for $200 million. The WonderFi deal follows a broader trend of consolidation in the crypto space this year. High-profile tie-ups include Coinbase’s $2.9 billion acquisition of Deribit and Ripple’s $1.25 billion purchase of prime brokerage firm Hidden Road.
The deal will also bolster Robinhood’s headcount in Canada, where it already employs more than 140 people. WonderFi’s staff is expected to integrate into Robinhood’s broader crypto operations.
The move comes at a time of renewed enthusiasm for crypto markets, buoyed in part by support from President Donald Trump’s administration. Bitcoin has continued to gain ground in 2025, even as traditional equity markets like the S&P 500 have slipped, with the index down 0.6% year-to-date.
By acquiring WonderFi, Robinhood is positioning itself at the forefront of the accelerating global crypto rebound, offering a more diversified platform to meet evolving investor demand.
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