07:52 AM EDT, 05/13/2025 (MT Newswires) -- Robinhood Markets ( HOOD ) said Tuesday it has agreed to acquire WonderFi, a Canadian digital asset products and services provider, for an all-cash purchase price of 250 million Canadian dollars ($179 million) on a fully diluted, in-the-money basis, which will be financed with cash on hand.

Robinhood will acquire all of the issued and outstanding common shares for CA$0.36 per share, which represents a premium of around 41% to the closing price of the shares on the Toronto Stock Exchange on May 12.

WonderFi operates two regulated crypto platforms in Canada, with more than CA$2.1 billion in assets under custody. Following the transaction, WonderFi will continue to operate its products, while its leadership will stay on as part of Robinhood Crypto and employees will join Robinhood employees based in Canada.

The deal is expected to close in H2 2025, subject to certain closing conditions, including regulatory court and WonderFi's shareholders' approvals.