Overview
- Robinhood completed the all-cash acquisition of WonderFi for C$0.36 per share, a fully diluted price of about C$250 million, closing the deal on Monday and formally establishing a Canadian presence.
- The purchase brings regulated Canadian exchanges Bitbuy and Coinsquare into Robinhood’s operations and raises its international funded customer base above one million by adding roughly 300,000 funded Canadian accounts.
- Final regulatory clearance came from the Canadian Investment Regulatory Organization for Coinsquare Capital Markets in late May, satisfying the remaining condition needed to close the transaction.
- WonderFi was delisted from the Toronto Stock Exchange after the close, its employees will join Robinhood’s Canadian team, and Robinhood says it will maintain WonderFi’s institutional relationships.
- Robinhood plans a phased technical and compliance integration, will invite customers to migrate to the Robinhood app with a flat 0.5% CAD crypto trading fee, and faces execution risks around technology, licensing alignment, and customer migration timelines.