Key Takeaways
- Robinhood will purchase WonderFi for $179 million in an all-cash deal.
- WonderFi operates two main Canadian Bitcoin buying and selling platforms: Bitbuy and Coinsquare.
- The transfer is a component of a bigger pattern of Bitcoin-related M&A in 2025.
Robinhood has agreed to accumulate Canadian crypto agency WonderFi for 250 million Canadian {dollars} ($179 million) in an all-cash transaction, the corporate introduced Could 13.
The deal is anticipated to shut within the second half of 2025, pending regulatory, courtroom, and shareholder approval.
WonderFi’s operations and companies
WonderFi operates Bitbuy and Coinsquare, two of Canada’s oldest regulated crypto platforms, with greater than 2.1 billion Canadian {dollars} in property underneath custody.
The platforms provide companies together with Bitcoin buying and selling, staking, and custody.
Strategic partnership and monetary particulars
Johann Kerbrat, SVP and basic supervisor of Robinhood Crypto, mentioned:
WonderFi has constructed a formidable household of manufacturers serving newbie and superior crypto customers alike, making them a really perfect associate to speed up Robinhood’s mission in Canada.
Robinhood pays 0.36 Canadian {dollars} per WonderFi share — a 41% premium over its final closing worth and a 71% premium over its 30-day common.
Earlier than the acquisition, WonderFi had a market cap of 163.9 million CAD, regardless of a 13.6% year-to-date drop in its share worth.
Broader M&A pattern in 2025
The acquisition follows Robinhood’s 2024 buy of Bitstamp for $200 million and aligns with a broader M&A pattern in 2025.
Different main offers embody Coinbase’s $2.9 billion acquisition of Deribit, Ripple’s $1.25 billion acquisition of Hidden Highway, and Kraken’s latest buy of NinjaTrader.
WonderFi’s market efficiency
WonderFi processed 3.57 billion CAD in buying and selling quantity final yr, up 28% from 2023, signaling robust efficiency forward of the deal.