Crypto News: Robinhood Acquires Major Canadian Crypto Firm

Key Insights:

• As per latest crypto news, Robinhood will acquire WonderFi for C$250M in cash.
• WonderFi manages over C$2.1B in assets under custody through its platforms Bitbuy and Coinsquare.
• The acquisition is expected to close in H2 2025, pending regulatory, shareholder, and court approvals.

Robinhood said it will buy WonderFi Technologies Inc.. It is a Canadian company focused on digital asset exchanges, in a deal totaling about C$250 million in cash. The purchase is part of the firm’s plan to expand globally, particularly when it comes to cryptocurrency.

Once the integration happens, WonderFi will be a part of Robinhood Crypto, still providing services to users in Canada. Preliminary plans call for the closing to happen in the second half of 2025, subject to gaining the required approvals.

Robinhood Strengthens Position in Canadian Crypto Market

According to a new press release, Robinhood Markets, Inc. signed a deal to buy all outstanding common shares of WonderFi for C$0.36 per share. This price means an increase of 41% from WonderFi’s May 12, 2025, closing stock price and an increase of 71% from its 30-day VWAP. The acquisition will use only funds already held by the firm.

WonderFi is known in Canada as a key regulated digital asset service provider. The firm is looking after over $2.1 billion in customer holdings. The company’s Bitbuy and Coinsquare platforms cover crypto trading, staking, and custody services.

Getting WonderFi gives the crypto firm more influence in a market that has enjoyed non-stop growth in crypto usage and trade volume.

By leveraging WonderFi’s operational expertise and established customer base, the company aims to strengthen its capacity to provide affordable crypto services throughout Canada.

Crypto News: Expanding Crypto Services Under Robinhood

Robinhood Crypto will use WonderFi’s operations and product suite after the acquisition. The WonderFi leadership team will stay put and support Robinhood’s attempts to scale its crypto operations in Canada. The companies highlighted their common goal to increase the reach of digital asset markets.

Johann Kerbrat – Senior Vice President, General Manager of Robinhood Crypto feels that WonderFi’s customer focus and range of products make it a perfect target acquisition for the firm’s expansion plans. WonderFi is aimed at newcomers and professionals, which corresponds to Robinhood’s approach to offering easy tools for finance.

Johann Kerbrat added, 

“We look forward to partnering with the WonderFi team to deliver innovative, user-centric crypto products to Canadian customers.”

The company established its Canadian headquarters in Toronto in 2024 and currently employs over 140 professionals in the country. With the addition of WonderFi’s team, the crypto firm expects to strengthen its technical and regulatory capabilities in the Canadian market.

Transaction Terms and Market Context Lead Crypto News Narrative

This acquisition will happen by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia). The price agreed on, C$0.36 per share, puts WonderFi’s fully diluted equity value at C$250 million. Shareholders are expected to get cash after customary approvals are completed.

WonderFi’s stock on the Toronto Stock Exchange dropped 13.6% in 2025. The company was worth C$163.9 million before the announcement of the acquisition. In addition, WonderFi had a C$3.57 billion trading volume for fiscal year 2024, which was a 28% rise from the prior year.

More so, the deal follows a series of recent high-profile transactions in the digital asset space in 2025. Other deals include Coinbase’s acquisition of Deribit for $2.9 billion and Ripple’s purchase of Hidden Road for $1.25 billion. Robinhood itself previously acquired Bitstamp for $200 million as part of its global crypto strategy.

Strategic Growth Beyond the U.S.

Moreover, the acquisition of WonderFi is part of Robinhood’s plan to expand past the United States, which made headline in the crypto news space. Well-known for offering free trading, the trading platform has been making its product lineups broader, especially when it comes to digital assets.

The company is offering crypto services in certain eligible European countries and is still looking for more chances abroad. Robinhood will be able to tap into an established Canadian audience, in addition to regulatory frameworks that will enable future growth in the crypto space.

Remarkably, the leading trading platform has been on a crypto growth spree and recently listed Popcat ($POPCAT), PENGU ($PENGU), and PNUT ($PNUT). After listing, Popcat skyrocketed and recorded its trading volume to increase by 175% in 24 hours, an indication of strong appetite among retail investors.