Robinhood acquires WonderFi for $250M in cash to accelerate global crypto expansion

Robinhood is making another bold move in crypto. On Tuesday, the commission-free trading platform announced it’s acquiring Canadian crypto company WonderFi in an all-cash deal valued at 250 million Canadian dollars, or about $179 million.

The deal gives WonderFi shareholders 36 Canadian cents per share, which is a 41% premium over its last closing price. WonderFi operates Bitbuy and Coinsquare, two exchanges that processed over C$3.57 billion in crypto trading volume last year—a 28% jump from the previous year.

As part of the acquisition agreement, all WonderFi employees will join Robinhood.

“The all-cash deal values WonderFi at 36 Canadian cents per share, a 41% premium to its previous close,” Reuters reported.

With this acquisition, Robinhood is stepping up its efforts to grow beyond its roots as a stock-trading app. Crypto is becoming a bigger part of that strategy. Last year, the company shelled out $200 million to acquire crypto exchange Bitstamp. Now it’s doubling down in Canada, a market where it already has more than 140 employees.

“This is an ideal partner,” said Johann Kerbrat, SVP and GM of Robinhood Crypto, pointing to WonderFi’s appeal to both beginner and advanced users.

The timing lines up with renewed investor interest in crypto. Bitcoin prices are climbing again, and crypto dealmaking is heating up. Coinbase recently bought Deribit for $2.9 billion, and Ripple acquired prime brokerage firm Hidden Road for $1.25 billion. Analysts have connected the industry’s rebound in part to policy shifts under U.S. President Donald Trump.

WonderFi, despite the recent uptick in crypto interest, has had a bumpy year on the Toronto Stock Exchange. Its stock has dropped over 13% in 2025, giving it a market cap of C$163.9 million, less than the final price Robinhood is paying.

This acquisition deal is a clear signal that Robinhood wants to be more than just a trading app—it’s building itself into a broader financial platform, with crypto front and center.

Early last year, Robinhood Markets, the parent company of the popular trading app Robinhood, also acquired portfolio management platform TradePMR in a cash-and-stock deal valued at approximately $300 million.