Robinhood to Acquire Crypto Platform WonderFi for $179 Million

Online broker Robinhood has finalized an agreement to acquire Canadian crypto company WonderFi, which manages assets worth 2.1 billion CAD ($1.5 billion).

Robinhood has signed an agreement to acquire @WonderFi, a Canadian leader in crypto products.

We’re excited to partner with WonderFi to accelerate Robinhood’s mission in Canada.

More details: https://t.co/B2ygTDYOPw pic.twitter.com/9u1c0vJeWV

— Robinhood (@RobinhoodApp) May 13, 2025

The deal is valued at approximately 250 million CAD ($178.6 million), representing a 41% premium over the closing price of common shares on the Toronto Stock Exchange on May 12, 2025. Robinhood will pay for the acquisition entirely in cash.

The transaction is expected to close in the second half of the year, pending customary conditions such as shareholder, court, and regulatory approvals.

The WonderFi team will join Robinhood’s Canadian staff, which numbers over 140 people.

The crypto company will continue to manage its products, including the country’s oldest regulated exchanges, Bitbuy and Coinsquare.

“WonderFi has built an impressive family of brands serving both novice and advanced cryptocurrency users, making them an ideal partner to accelerate our mission in Canada,” said Johan Kerbrat, Senior Vice President and CEO of Robinhood Crypto.

In November 2024, WonderFi made headlines after its President and CEO Dan Skurka was kidnapped by unknown individuals. The executive was released after a $1 million ransom was paid.

Earlier in 2025, the largest acquisition in the industry was Coinbase’s purchase of the crypto derivatives platform Deribit for $2.9 billion.