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Brokerage fintech Robinhood is acceptable to get WonderFi, a Canadian crypto firm, for astir 250 cardinal Canadian dollars ($179 million) successful an all-cash woody to grow its planetary presence.
The acquisition is expected to adjacent successful the 2nd fractional of 2025, Robinhood said successful a May 13 property release.
WonderFi operates 2 of Canada’s longest-standing regulated crypto trading platforms, Bitbuy and Coinsquare, managing implicit 2.1 cardinal Canadian dollars successful assets nether custody. These platforms connection crypto trading, staking and custody services.
“WonderFi has built a formidable household of brands serving beginner and precocious crypto users alike, making them an perfect spouse to accelerate Robinhood’s ngo successful Canada,” said Johann Kerbrat, elder vice president and wide manager of Robinhood Crypto.
Under the presumption of the deal, Robinhood volition get each outstanding WonderFi shares astatine 0.36 Canadian dollars per stock — a 41% premium implicit WonderFi’s past closing terms connected the Toronto Stock Exchange and a 71% premium implicit its 30-day volume-weighted mean price.
Before the deal, WonderFi’s marketplace headdress was 163.9 cardinal Canadian dollars, and its banal was down 13.6% year-to-date connected the Toronto Stock Exchange.
The woody remains taxable to customary closing conditions, including regulatory and tribunal approvals, arsenic good arsenic support by WonderFi’s shareholders.
Source: RobinhoodRelated: Robinhood beats Q1 estimates contempt revenue, crypto trading dip
Crypto M&A frenzy picks up
Robinhood’s $179 cardinal acquisition of WonderFi is portion of a broader question of crypto manufacture mergers and acquisitions (M&As) successful 2025, spurred by friendlier US regulations nether President Donald Trump.
Major deals this twelvemonth see Coinbase’s $2.9 cardinal acquisition of Deribit and Ripple’s $1.25 cardinal acquisition of Hidden Road.
Furthermore, connected May 2, Kraken completed its acquisition of the futures trading level NinjaTrader, a determination that would grow the exchange’s lawsuit basal and alteration it to connection crypto futures and derivatives successful the US.
Robinhood has besides been connected a buying spree. In 2024, the brokerage steadfast acquired Bitstamp cryptocurrency speech successful a $200 million deal, enabling the app to service organization clients successful the United States.
On May 7, it was besides reported that Robinhood is developing a blockchain network enabling European retail investors to commercialized US securities.
Notably, WonderFi saw beardown show successful 2024, processing 3.57 Canadian dollars cardinal successful trading volume, a 28% summation from the erstwhile year.
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