Robinhood Markets (HOOD), the California -based financial services company, said it has agreed to buy the Canadian Wonderfi Cryptography Company (WNDR) for $ 178.98 million.
The acquisition of all climb values Wonderfi to 36 cents Canadian per share, a bonus of 41% compared to its closing price before the announcement on Tuesday.
“Wonderfi has built a formidable family of brands at the service of beginners and advanced crypto users, making it an ideal partner to speed up the mission of Robinhood in Canada,” said Johann Kerbrat, head of Robinhood Crypto, in the official announcement. Friday, Kerbrat will be expressed in the Toronto consensus.
Robinhood, a popular brokerage platform without commission, has been looking to extend its international footprint for some time and has concluded an agreement to acquire Bitstamp last year of cryptocurrency exchange.
The latest acquisition will help him win reviews based in Canada. Wonderfi listed in Toronto has and operates Bitbuy and Coinsquare, two main cryptographic platforms in the country. The commercial volume on Wonderfi, whose CEO Dean Skurka will speak during the consensus on Thursday, increased by 28% to 3.57 billion Canadian dollars during the year 2024.
The agreement will bring Robinhood to Canada, increasing competition for exchanges such as Coinbase and Wealthsimple Crypto.
Crypto’s merger and acquisition activity accelerated the pace with American president Donald Trump by adopting a friendly crypto approach. Last week, the quoin listed at the Nasdaq made a daring bet on the segment of digital asset derivatives, acquiring the giant drifting of crypto options as part of an agreement of $ 2.9 billion.
Update (May 13, 14:43 UTC): Add the appearances of managers to Toronto consensus.
