Key facts
- Robinhood Markets completed the acquisition of WonderFi for approximately $180 million USD.
- WonderFi operates regulated Canadian crypto platforms Bitbuy and Coinsquare.
- The acquisition brings Robinhood's international funded customer base to over 1 million.
- WonderFi's stock was delisted from the Toronto Stock Exchange.
- Robinhood created Wrangler Holdings Inc. as a subsidiary for the acquisition.
Robinhood's acquisition of WonderFi marks a significant strategic expansion into the Canadian market, broadening its international presence and capabilities in the digital asset and brokerage sectors. By integrating WonderFi's regulated platforms, Robinhood aims to leverage its existing user base and technology to capture a larger share of the Canadian crypto market.