Robinhood agreed to acquire Canadian crypto firm WonderFi (TSX: WNDR) in a C$250m all-cash deal to get a foothold in the region. WonderFi operates Bitbuy and Coinsquare, two of Canada's longest-standing regulated crypto platforms, which have been operating for over 10 years and hold more than C$2.1m in assets under custody.
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Robinhood acquires WonderFi to expand into Canada
"We felt like WonderFi was one of the best partners for us to accelerate our mission into Canada, and Canada was also the next step for international expansion," Johann Kerbrat, SVP and GM of Robinhood Crypto, tells Axios.
