Robinhood Markets, Inc. has completed the acquisition of WonderFi, a formerly publicly traded Canadian fintech company focused on cryptocurrency and digital assets.

 

The acquisition, valued at $180 million, now allows Robinhood to fully enter the Canadian crypto market, with WonderFi subsidiaries Bitbuy, a crypto trading platform, and Coinsquare, a regulated crypto exchange, becoming part of the Robinhood brand.

 

“WonderFi has extensive experience operating regulated crypto platforms that serve beginner and advanced crypto users alike, making it an ideal partner to accelerate Robinhood’s mission in Canada,” said Johann Kerbrat, SVP and General Manager of Robinhood Crypto & International.

 

“We’re pleased to have closed our acquisition and look forward to delivering innovative, user-centric investing products to Canadian customers,” he added.

 

With this acquisition, WonderFi employees will join more than 240 Robinhood employees based in Canada, collectively serving more than 1 million Robinhood customers internationally and 300,000 existing WonderFi customers.

 

About Robinhood 

Robinhood Markets, Inc. is a Nasdaq-listed American financial technology company with a presence in the United Kingdom, the European Union (EU), and now Canada.

 

Established in February 2018, Robinhood operates a dual trading platform across mobile and web that is designed to make access to different asset classes easier, particularly for newer investors. Its mission is simple: to democratize finance for all.

 

Since its launch, Robinhood has achieved several milestones, including pioneering commission-free trading in the United States, a move that prompted many brokerage firms to eliminate commission fees. Over the years, Robinhood has also completed a number of acquisitions, including X1, a financial technology company; TradePMR; Bitstamp, a cryptocurrency exchange; and Pluto Capital.

 

Like Robinhood, several other companies have completed acquisitions this year to expand into new areas of finance and cryptocurrency. Bullish, a cryptocurrency exchange, recently acquired Equiniti for approximately $4.2 billion as part of its effort to enter the tokenized securities sector. Other companies, including Mastercard, Polygon Labs, and OKX, have also pursued strategic acquisitions to expand their market presence.