The all-cash transaction offers Wonderfi shareholders C$0.36 per common share, representing a 41% premium to its May 12 closing price and a 71% premium to its 30-day volume-weighted average price. The deal, pending regulatory and shareholder approvals, is expected to close in late 2025. Wonderfi operates Bitbuy and Coinsquare, two of Canada’s largest regulated crypto platforms, which collectively oversee C$2.1 billion in assets.

Robinhood cited Canada’s fast-growing crypto market and Wonderfi’s established infrastructure as key drivers. “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,” said Johann Kerbrat, SVP of Robinhood Crypto.

Wonderfi CEO Dean Skurka emphasized shared goals, stating the merger will “super-charge” product offerings for Canadian customers. The Wonderfi acquisition advances Robinhood’s global expansion strategy, building on its 2024 launch of a Toronto engineering hub. Wonderfi’s leadership and 140 employees will join Robinhood Crypto, maintaining existing platforms while integrating services like crypto trading, staking, and custody.

Robinhood, which began offering crypto in the EU in 2023, aims to leverage Wonderfi’s regulatory expertise and customer base. The deal follows Robinhood’s pattern of using cash reserves for strategic buys, avoiding stock dilution.

J.P. Morgan advised Robinhood, while Wonderfi retained FT Partners and legal advisors. Canaccord and Origin Merchant Partners provided fair opinions. The transaction showcases intensifying competition in crypto markets, with Robinhood positioning itself as a global contender against rivals like Coinbase and Kraken.

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