Robinhood to Acquire WonderFi in $250M Deal to Expand Crypto Presence in Canada

Toronto-based WonderFi is set to be acquired by Robinhood Markets in a $250 million all-cash deal. The U.S. trading giant is offering $0.36 per share—a 41% premium over WonderFi’s last TSX closing price.

The acquisition will bring WonderFi’s 1.7 million users, $2.1 billion in client assets, and leading platforms Bitbuy and Coinsquare under Robinhood’s umbrella. WonderFi’s team will join Robinhood’s Canadian operations, which already employ 140 people in Toronto.

The deal, expected to close in the second half of 2025 pending approvals, positions Robinhood to compete directly with Wealthsimple and expand its crypto footprint in Canada. It also comes as Robinhood leans into crypto under U.S. President Donald Trump’s deregulation efforts.

WonderFi’s leadership called the acquisition a “launchpad” for Robinhood’s Canadian ambitions.