14-5-2025 – California’s Robinhood Markets has unveiled plans to acquire Canadian cryptocurrency firm WonderFi in a landmark $178.98 million deal.
The transaction marks Robinhood’s inaugural foray into the Canadian market, positioning the commission-free trading platform to challenge established players like Coinbase and Wealthsimple Crypto. The agreement values WonderFi shares at 36 Canadian cents each, representing a substantial 41% premium above their previous market close.
WonderFi, which oversees prominent Canadian crypto exchanges Bitbuy and Coinsquare, has demonstrated robust growth, with trading volumes surging 28% to reach C$3.57 billion in fiscal 2024. The firm’s CEO, Dean Skurka, is scheduled to share insights at the upcoming Consensus conference.
Johann Kerbrat, who heads Robinhood’s cryptocurrency division and is slated to address Consensus Toronto, praised WonderFi’s comprehensive service portfolio, noting its appeal to both novice and seasoned crypto enthusiasts. This acquisition follows Robinhood’s earlier expansion efforts, including its previous agreement to purchase cryptocurrency exchange Bitstamp.
The announcement comes amid heightened cryptocurrency merger activity, influenced by President Trump’s crypto-friendly stance. Notable in this trend is Coinbase’s recent $2.9 billion acquisition of derivatives specialist Deribit, reflecting the industry’s growing consolidation.
