Robinhood announced the acquisition of WonderFi for $179 million, solidifying its presence in the Canadian crypto market.
WonderFi shareholders will receive C$0.36 per share in an all-cash transaction, representing a 41% premium.
The acquisition includes Bitbuy and Coinsquare, Canada's leading regulated crypto exchanges, expanding Robinhood's offerings in Canada.
WonderFi's expertise in crypto, along with its leadership team, will enhance Robinhood's Canadian operations and bolster its global expansion strategy.