Robinhood Expands into Canada with WonderFi Acquisition

Robinhood acquires Canada’s WonderFi for $178M, boosting its crypto footprint with Bitbuy and Coinsquare under its belt.

Robinhood Acquires WonderFi, Deepening Crypto Roots in Canada

In a bold move that signals its deepening commitment to cryptocurrency, Robinhood is set to acquire Canadian digital asset company WonderFi in an all-cash deal valued at approximately CA$250 million (around $178.5 million USD). This strategic acquisition, announced Tuesday, marks a major step in Robinhood’s global expansion, particularly into Canada’s rapidly evolving crypto market.

The deal, which is expected to close in the latter half of 2025, offers WonderFi shareholders CA$0.36 per share—representing a significant 41% premium over the company’s recent trading price. It also cements Robinhood’s growing presence in the digital asset space by adding two of Canada’s largest regulated crypto platforms, Bitbuy and Coinsquare, to its portfolio.

WonderFi Brings Billions in Custodial Assets

At the heart of the acquisition are Bitbuy and Coinsquare, platforms under WonderFi’s umbrella that together hold more than CA$2.1 billion in assets under custody. Their inclusion not only diversifies Robinhood’s crypto reach but also injects substantial credibility into its international ambitions.

WonderFi, which became publicly listed in Canada via a reverse takeover in 2021, has long been a prominent player in the Canadian fintech space. The company built its reputation on regulatory compliance and user-focused innovation—two factors Robinhood hopes to leverage as it expands northward.

According to Robinhood, the entire WonderFi team, including CEO Dean Skurka, will join Robinhood Crypto. This move brings additional experience and leadership into the company’s Toronto office, which already employs about 140 people.

A Broader Strategy of Global Crypto Expansion

Robinhood’s acquisition of WonderFi isn’t a one-off. It follows the company’s $200 million purchase of Bitstamp, a European crypto exchange, last year. These back-to-back deals highlight a clear trend: Robinhood is steadily building an international crypto infrastructure.

Vlad Tenev, Robinhood’s co-founder and CEO, has made no secret of his belief in the transformative power of cryptocurrency. In a recent conversation with TechCrunch, Tenev expressed optimism about the future of digital assets—especially under what he perceives to be a more crypto-friendly U.S. administration.

“Crypto is the next in a long line of tech revolutions that have modernized financial infrastructure,” he said. For Robinhood, embracing this revolution isn’t just about following trends—it’s about staying ahead of them.

Canada: A Fertile Ground for Crypto Innovation

Canada has quickly emerged as a key player in the global crypto landscape. With a regulatory framework that balances oversight and innovation, the country is proving attractive to both startups and major players alike.

For Robinhood, the acquisition of WonderFi offers an immediate foothold in a regulated environment with established customer trust and high asset volume. It also aligns with growing investor demand for reliable, accessible crypto services in Canada and beyond.

Bitbuy and Coinsquare are not only compliant but also known for their robust security practices—qualities that are essential as regulators worldwide continue to scrutinize crypto platforms for consumer protection.

Looking Ahead: What This Means for Investors

While the financial details of the deal are eye-catching, the broader implications are even more significant. Robinhood’s aggressive push into international crypto markets signals a maturing strategy—one that sees digital assets not as a niche, but as a core part of the future financial ecosystem.

This could mean more product offerings, enhanced trading capabilities, and perhaps even new regulatory conversations in the U.S. and abroad. As Robinhood taps into Canada’s established market, investors on both sides of the border are likely to benefit from improved access, lower fees, and greater innovation.

Still, as with all things crypto, the path forward will require navigating complex regulatory terrain and shifting market dynamics. But with WonderFi in its corner, Robinhood appears well-equipped for the journey.

Conclusion: Robinhood’s Crypto Gambit Gains Momentum

Robinhood’s acquisition of WonderFi is more than a headline—it’s a clear message that the fintech firm sees crypto as central to its future. By adding two of Canada’s leading platforms and over CA$2.1 billion in custodial assets, Robinhood isn’t just entering a new market—it’s fortifying its position in a digital economy that’s reshaping global finance.

As the deal finalizes later this year, all eyes will be on how Robinhood integrates WonderFi’s capabilities and personnel into its broader strategy. If successful, it could set the tone for the next phase of crypto expansion—not just for Robinhood, but for the industry as a whole.

Disclaimer:
The information in this article is intended for general informational purposes only and does not constitute financial or investment advice. Readers should conduct their own research or consult a financial advisor before making investment decisions.

source : teck crunch