Robinhood Markets (Hood), California based at California Services Company, Says Tuesday Sumang Tagay to buy Canadian Crypto Firm Wonderfi (WNDR) for $ 178.98 million.
All-cash acquisition values are Wonderfi at 36 Cents of Canada per part, a 41% premium over its price before the announcement.
“Wonderfi has built a terrible family of brands that serve beginner and advanced crypto users, making it a fine partner to speed up the Robinhood mission in Canada,” Johann Kerbrat, SVP and GM of Robinhood Crypto, said in the official announcement.
Robinhood, a popular broker platform with no commission, is looking to expand its international footprint for several hours and struck A deal to get Cryptocurrency Exchange Bitstamp last year.
The latest acquisition will help it win Canada -based customers. Listed in Toronto listed in Wonderfi owns and operates Bitbuy and Coinsquare, two top domestic crypto platforms on the Canadian market. Wonderfi trade volumes rose 28% to C $ 3.57 billion in fiscal 2024.
The activity of combining crypto and acquisitions went at the speed of US President Donald Trump which adopted a crypto-friendly approach. Last week, the Nasdaq listed Coinbase made a bold stakes in the digital assets derivatives segment, getting crypto options giant derivit in a landmark of $ 2.9 billion deals.
