In a major development that’s just been announced, WonderFi is to be acquired by Robinhood Markets in a deal worth $250 million CAD. This all-cash transaction values WonderFi shares at $0.36 CAD, which actually represents a pretty significant 41% premium over the May 12 closing price. The move seems to be part of Robinhood’s ambitious strategy to expand its crypto services internationally, starting with the Canadian market.
JUST IN: 🇨🇦 Robinhood acquires Canada's leading crypto trading platform, WonderFi. pic.twitter.com/JypyyHIlSP
— Watcher.Guru (@WatcherGuru) May 13, 2025
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Robinhood Expands Crypto Access With WonderFi Canada Acquisition
Deal Structure and Timeline
The companies just announced the WonderFi deal through a definitive agreement and expect to complete it sometime during the second half of 2025. At this point, the transaction still needs various regulatory approvals from Canadian authorities, as well as court approval and WonderFi shareholder consent before the companies can finalize it.
According to the announcement, WonderFi’s existing products will continue to operate after the acquisition goes through. It’s worth noting that since 2022, the company has been actively consolidating the Canadian crypto market by acquiring several platforms including Bitbuy, Coinsquare, and others.
Johann Kerbrat, Robinhood Crypto senior vice-president and general manager, stated:
“WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike, making them an ideal partner to accelerate Robinhood’s mission in Canada. We look forward to partnering with the WonderFi team to deliver innovative, user-centric crypto products to Canadian customers.”
Strategic Market Positioning
Robinhood’s crypto expansion essentially positions the American platform in direct competition with Wealthsimple, which many consider to be Robinhood’s Canadian counterpart. While WonderFi currently manages around $2.1 billion in assets from approximately 1.7 million users, Wealthsimple serves over three million Canadians with about $73 billion in assets under administration.
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The WonderFi acquisition also seems to be part of a broader trend, as there’s growing interest in the Canadian market from several major U.S. crypto firms, with companies like Coinbase and Kraken also recently focusing on Canada.
Bobby Halpern, WonderFi’s Executive Chairman, said:
“Through a long and focused effort, WonderFi successfully built one of Canada’s largest registered crypto-trading platforms. This transaction is the culmination of those efforts and the launchpad for Robinhood to democratize finance across Canada.”
Regulatory Considerations
The crypto regulation landscape in Canada will obviously play a crucial role in how this deal progresses. Right now, multiple authorities, including the Supreme Court of British Columbia and the Canadian Securities Administrators, must approve the deal.
It’s also interesting to note that Robinhood’s crypto expansion is happening at a time when President Trump’s administration is actively rewriting U.S. crypto rules with the stated goal of making the United States “the crypto capital of the world.”
WonderFi President and CEO Dean Skurka stated:
“WonderFi and Robinhood are united in our visions of making crypto accessible and bringing more people into the crypto space. We’re delighted to be joining the Robinhood team and to super-charge our product offerings for customers.”
Shareholder Value and Market Response
This WonderFi to be acquired agreement offers shareholders an attractive premium—approximately 71% above the 30-day volume-weighted average trading price. This might address some investor concerns about WonderFi’s recent market performance, especially since its stock currently remains down about 68% from its June 2022 peak.
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As of now, approximately 28% of WonderFi shareholders, including various directors and officers, have already entered voting support agreements backing the arrangement.
Future Outlook
Moving forward, Robinhood’s crypto drive via WonderFi’s acquisition may greatly bolster its status in the world. Some analysts of Bernstein also consider that the company’s wider plans in the crypto space may end up doubling the value of its shares. Under this agreement, the leadership team of WonderFi will join Robinhood Crypto’s Canadian employees (which are currently 140, in Robinhood headquarters – Toronto).
This acquisition is a major event in the North American cryptocurrency exchange consolidation and may prove beneficial for customers intending to have extended and more accessible crypto here and abroad.
