Robinhood Markets (Hood), the California financial services company, said he agreed to buy the Canadian cryptography firm Wonderfi (Wnd) for $ 178.98 million.
The acquisition values of the entire Cash Wonderfi in 36 Canadian cents per share, a 41% premium on its closing price before Tuesday’s announcement.
“Wonderfi has created a formidable family of brands that serve users of beginner and advanced cryptographic, turning them into an ideal partner to accelerate Robinhood’s mission in Canada,” said Johann Kerbrat, Robinhood Crypto head of the official announcement. Kerbrat will speak in Consensus Toronto on Friday.
Robinhood, a popular commission -free brokerage platform, has been looking to expand its international footprint for some time and reached an agreement to acquire cryptocurrency exchange Bitstamp last year.
The last acquisition will help you win over Canada’s headquarters. Wonderfi, which is quoted in Toronto, owns and operates Bitbuy and Coinsquare, two leading cryptographic platforms in the country. The commercial volume in Wonderfi, whose CEO Dean Skurka will speak to consensus on Thursday, increased 28% to C $ 3.57 billion in fiscal year 2024.
The agreement will bring Robinhood to Canada, increasing competition for exchanges such as Coinbase and WealthSimple Crypto.
The activity of fusion and cryptography acquisition has accelerated the rhythm with the president of the United States, Donald Trump, adopting a friendly approach to cryptographic. Last week, Coinbase, which is quoted in Nasdaq, made a bold commitment in the digital asset derivatives segment, acquiring a giant Beribit of cryptocurrency options in a historical agreement of $ 2.9 billion.
Update (May 13, 14:43 UTC): Add the apparitions of executives in Consensus Toronto.
