May 2025 – U.S.-based financial services company Robinhood has announced its agreement to acquire WonderFi, a leading Canadian crypto trading platform, in a deal valued at approximately $179 million USD. This acquisition marks a significant step in Robinhood’s international expansion and its continued push into the cryptocurrency sector.
Expanding International Footprint
Robinhood, known for its commission-free trading app popular among retail investors, has been steadily increasing its global presence. The acquisition of WonderFi gives Robinhood direct access to the Canadian market, one of the most active and regulated crypto environments outside the United States.
“With this acquisition, we’re accelerating our mission to democratize finance globally,” said Robinhood CEO Vlad Tenev. “WonderFi brings deep experience in crypto trading and a trusted presence in Canada, which makes this a natural partnership.”
The deal is expected to close in the second half of 2025, pending regulatory approvals and customary closing conditions.
Why WonderFi?
WonderFi has positioned itself as a key player in Canada’s digital asset landscape, offering crypto trading, DeFi access, and blockchain-based financial services to over 500,000 users. The company is backed by high-profile investors and has previously acquired other Canadian platforms, such as Bitbuy and Coinsquare, consolidating its market position.
Robinhood views WonderFi as both a strategic and operational match. The acquisition will allow Robinhood to:
- Enter the Canadian market with an existing regulatory framework
- Gain access to a broad crypto customer base
- Integrate new digital asset products into its global platform
WonderFi CEO Dean Skurka stated, “Joining Robinhood is a game-changer. We’re thrilled to bring our technology and community to a larger stage and help shape the future of crypto access for Canadians.”
Crypto Still a Core Focus for Robinhood
Despite regulatory uncertainty and market volatility in the digital asset space, Robinhood remains committed to expanding its crypto services. This acquisition comes after Robinhood launched its Robinhood Wallet, a self-custody crypto product, and listed more tokens to meet growing user demand.
The move to acquire WonderFi reflects Robinhood’s belief in the long-term value of digital assets and its strategy to diversify revenue beyond traditional equities trading.
Analyst Reactions and Market Impact
Market analysts see the acquisition as a bold but logical move. “Robinhood is leveraging a local champion to enter a regulated and growing market,” said crypto analyst Jessica Lin. “It’s a safer and faster route than building from scratch.”
Some Canadian regulators and policymakers have welcomed the deal, noting that it brings greater attention to Canada’s crypto sector and may encourage more foreign investment and innovation.
For WonderFi shareholders, the deal includes a mix of cash and stock compensation, offering upside tied to Robinhood’s future performance.
What’s Next?
Once the deal is finalized, WonderFi will be fully integrated into Robinhood’s brand and app infrastructure. Robinhood has not yet confirmed whether the WonderFi name will remain, but executives have hinted at a gradual transition to a unified platform experience.
The acquisition underscores Robinhood’s growing ambition to become a global financial services provider—with crypto trading at the heart of its future strategy.