(Reuters) -Robinhood said on Tuesday it will buy Canadian crypto firm WonderFi ( WONDF ) for C$250 million ($178.98 million), as the popular commission-free brokerage looks to expand its international footprint.

The all-cash deal values WonderFi ( WONDF ) at 36 Canadian cents per share, a 41% premium to its previous close.

The crypto industry, which is staging a comeback under U.S. President Donald Trump, has seen a flurry of tie-ups in 2025, including Coinbase's $2.9 billion purchase of Deribit and Ripple's $1.25 billion acquisition of prime brokerage firm Hidden Road.

Robinhood had struck a $200 million deal for crypto exchange Bitstamp last year.

The company has been pursuing user growth through acquisitions and making a deeper push into crypto as it evolves beyond its roots as a stock-trading app to become a more central part of its customers' financial planning.

WonderFi's ( WONDF ) brands include crypto exchanges Bitbuy and Coinsquare. It processed over C$3.57 billion in crypto trading volumes in fiscal year 2024, 28% higher than the previous year.

The company's focus on both "beginner and advanced crypto users" makes it an "ideal partner", said Johann Kerbrat, Senior Vice President and General Manager of Robinhood Crypto.

WonderFi's ( WONDF ) stock has declined 13.6% on the Toronto exchange so far in 2025, giving it a market capitalization of C$163.9 million.

Its employees will join Robinhood, which already has a workforce of more than 140 in Canada.

Interest in crypto has surged this year, with the price of bitcoin rising despite disruption due to economic uncertainty and trade tensions.

The benchmark S&P 500 index, on the other hand, has dipped 0.6% in 2025.

($1 = 1.3968 Canadian dollars)