Robinhood chose WonderFi as it operates two regulated Canadian crypto firms and has a proven record of delivering improved products to customers. This aligns with Robinhood’s vision of building a global financial ecosystem.
As part of the agreement, Robinhood will acquire all of the issued and outstanding common shares by way of a statutory plan of arrangement under the Business Corporations Act, with WonderFi’s shareholders receiving an all-cash consideration of CAD 0.36 per common share. The all-cash purchase price is a premium of approximately 41% to the closing price, and 71% to the 30-day VWAP. The acquisition will close in H2 2025, subject to customary closing conditions such as regulatory approvals, court approval, and shareholder approval.
Robinhood is democratising access to investing in the US, and aims to bring its expertise in modern, accessible financial products to a new customer base as it builds its global financial ecosystem, which is already available in eligible EU countries. The company is a counterparty which executed transactions globally in the past and intends to finance the purchase price with cash on hand.
The Canadian crypto market is showing signs of growth, and Robinhood’s low-cost and secure platform aims to bring Canadians greater access to crypto trading. WonderFi’s products, such as Bitbuy and Coinsquare, are aligned with Robinhood Crypto, which provides services such as trading, staking, and custody. WonderFi’s family of brands serve new and advanced crypto users alike, offering customer-centric crypto products.
The two companies share the same vision of spreading the adoption of crypto, making it more accessible for users globally. WonderFi will continue to operate its offering after the acquisition closes, and its leadership team will be part of Robinhood Crypto, and its employees will join Robinhood’s teams located in the Toronto headquarters.
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