The post Robinhood targets Canada for crypto: acquisition of WonderFi appeared on BitcoinEthereumNews.com.

The fintech broker Robinhood has announced the intention to acquire WonderFi, a Canadian company active in the crypto sector, for a value of 179 million dollars (approximately 250 million Canadian dollars) in an all-cash deal. The operation, which is expected to be completed in the second half of 2025, represents a significant step in the strategy of espansione internazionale of the American platform, which aims to strengthen its presence in the global cryptocurrency market. According to what was stated by Johann Kerbrat, senior vice president and general manager of Robinhood Crypto:  “WonderFi has built a formidable family of brands that serve both beginner and advanced cryptocurrency users, making them an ideal partner to accelerate Robinhood’s mission in Canada.” “`html WonderFi: a key player in the Canadian crypto market and the idea of Robinhood “` Founded in Canada, WonderFi is one of the most established entities in the country’s crypto landscape. The company operates two of the longest-standing regulated cryptocurrency trading platforms in Canada: Bitbuy and Coinsquare.  These platforms offer trading, staking, and custody of cryptocurrencies, and currently manage over 2.1 billion Canadian dollars in assets under custody. During 2024, WonderFi recorded a remarkable performance, with a trading volume of 3.57 billion Canadian dollars, marking an increase of 28% compared to the previous year.  This result further strengthens the strategic value of the acquisition for Robinhood, which will thus be able to rely on a solid and growing base in the North American market. The agreement provides that Robinhood acquires all the outstanding shares of WonderFi at the price of 0.36 Canadian dollars per share.  Thus offering a premium of 41% compared to the last closing price on the Toronto Stock Exchange and a premium of 71% compared to the 30-day volume-weighted average price.  Before the announcement, WonderFi’s market capitalization was…

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Filed under: News - @ May 13, 2025 7:23 pm