California-based financial services company Robinhood Markets (Hood) said Tuesday it agreed to buy Canadian Crypto Firm Wonderfi (WNDR) for $17,898 million.
All-Cash acquisitions are at 36 Canadian cents per share, focusing on Wonderfi, a premium of 41% from the pre-announced closing price.
“Wonderfi is an ideal partner to build a family of brands that are equally good for beginners and advanced users, and to accelerate Robinhood’s mission in Canada,” said Johann Kerbrat, SVP and GM of Robinhood Crypto in the official announcement.
Robinhood, an unpopular, fee-free brokerage company, has been trying to expand its international footprint for some time, signing a deal last year to acquire Cryptocurrency Exchange BitStamp.
The latest acquisitions will help you attract Canadian-based clients. Toronto-listed Wonderfi owns and operates two major domestic crypto platforms in the Canadian market: BitBuy and Coinsquare. Wonderfi’s trading volume increased 28% in 2024, up $3.57 billion.
Cryptomerization and acquisition efforts have been paced by US President Donald Trump using a crypto-friendly approach. Last week, Coinbase, registered with NASDAQ, placed a bold bet on the digital asset derivatives segment and acquired Crypto Options’ huge Deribit in a landmark $2.9 billion deal.
