Robinhood strengthens its foothold in the Canadian crypto market with a C$250 million acquisition of WonderFi.
Highlights:
- Strategic Expansion: Robinhood acquires WonderFi, operator of Bitbuy and Coinsquare, for C$250 million.
- Market Growth: The deal helps Robinhood tap into Canada’s rapidly growing crypto sector.
- Talent Integration: WonderFi employees will join Robinhood’s existing 140-member Canadian team.
Story Summary: Robinhood has announced its acquisition of WonderFi, a leading Canadian crypto firm that operates Bitbuy and Coinsquare, for approximately C$250 million. The move is part of Robinhood’s broader strategy to expand its presence in one of the fastest-growing crypto markets globally. With over C$2.1 billion in assets under custody, WonderFi brings significant market influence to Robinhood’s portfolio.
The acquisition will also integrate WonderFi’s workforce into Robinhood’s existing Canadian operations, further strengthening its infrastructure in the region. The deal is expected to close in the second half of the year, marking a major milestone in Robinhood’s international expansion efforts.
