Brokerage fintech Robinhood is set to acquire WonderFi, a Canadian crypto firm, for about 250 million Canadian dollars ($179 million) in an all-cash deal to expand its global presence. The acquisition is expected to close in the second half of 2025, as per a news release by Robinhood on May 13th. WonderFi operates Bitbuy and Coinsquare, two of Canada’s longest-standing regulated crypto trading platforms, managing over 2.1 billion Canadian dollars in assets under custody. These platforms offer crypto trading, staking, and custody services. Johann Kerbrat, senior vice president and general manager of Robinhood Crypto, stated, “WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike, making them an ideal partner to accelerate Robinhood’s mission in Canada.” Under the deal, Robinhood will purchase all outstanding WonderFi shares at 0.36 Canadian dollars per share, representing a 41% premium over WonderFi’s last closing price on the Toronto Stock Exchange and a 71% premium over its 30-day volume-weighted average price. Before the acquisition, WonderFi’s market cap was 163.9 million Canadian dollars, with its stock down 13.6% year-to-date on the Toronto Stock Exchange. The deal is subject to regulatory and court approvals, along with consent from WonderFi’s shareholders. This move by Robinhood is part of a broader trend of crypto industry mergers and acquisitions in 2025, fueled by favorable US regulations. Major deals this year include Coinbase’s $2.9 billion acquisition of Deribit and Ripple’s $1.25 billion acquisition of Hidden Road. Kraken recently completed its acquisition of NinjaTrader, expanding its customer base to offer crypto futures and derivatives in the US. Robinhood’s previous acquisitions include Bitstamp cryptocurrency exchange in a $200 million deal in 2024, enabling the app to cater to institutional clients in the US. Additionally, Robinhood is developing a blockchain network for European retail investors to trade US securities. WonderFi reported strong performance in 2024, processing 3.57 billion Canadian dollars in trading volume, a 28% increase from the previous year.