TL;DR
- Robinhood acquired WonderFi for $178.98 million, adding Canadian platforms Bitbuy and Coinsquare to its structure.
- WonderFi posted CA$3.57 billion in trading volume in 2024, securing its position in one of the most regulated crypto markets.
- The deal strengthens the wave of corporate moves in crypto, following Coinbase’s acquisition of Deribit and a more defined regulatory environment.
Robinhood finalized the acquisition of WonderFi, a Canadian crypto services firm, for $178.98 million. The deal values each WonderFi share at 36 Canadian cents, representing a 41% premium over its previous closing price. Through this operation, Robinhood adds two of the most recognized digital asset trading platforms in Canada: Bitbuy and Coinsquare.
In its last fiscal year, WonderFi reported CA$3.57 billion in trading volume, achieving an annual growth rate of 28%. This strong performance in one of the most regulated and demanding crypto markets in North America gives Robinhood a proven operational base with direct access to both retail clients and experienced traders.
Johann Kerbrat, head of Robinhood Crypto, emphasized that WonderFi has successfully built a portfolio of brands targeting different user profiles. This was a decisive factor in the acquisition, which seeks to integrate solutions tailored to varying levels of experience and risk. Kerbrat is scheduled to speak this week at Consensus Toronto, where further details about the company’s regional plans are expected.
Robinhood Joins the Corporate Race in the Crypto Industry
The acquisition adds to a wave of corporate moves that have reignited competition in the sector. Coinbase, for example, recently completed its $2.9 billion purchase of Deribit, one of the leading crypto derivatives platforms. Several firms in the industry are pursuing a shared strategy: to strengthen their position as clearer regulations take shape and institutional interest grows.
With this transaction, Robinhood gains fully licensed assets in Canada, an advantage over other foreign operators still facing restrictions in the market. Although the deal was announced today, the operational integration of these platforms is expected to begin in the coming months, once the necessary regulatory procedures are completed.
