Robinhood expands his business crypto to Canada with Wonderfi acquisition

By Canuto

Robinhood announced the acquisition of Wonderfi, a Canadian crypto platform. This movement, focused on international expansion, reflects Fintech’s interest in cryptocurrencies.

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• Robinhood announces the acquisition of the Wonderfi crypto platform, promoting its international presence.
• The purchase seeks to enhance digital financial services and consolidate Robinhood’s leadership in crypto.
• The operation represents a key step in Robinhood’s global strategy towards cryptocurrencies.

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Robinhoodone of the most recognized names in Fintech and online trade, recently announced the acquisition of Wonderfia platform within the cryptocurrency sector based in Canada.

In a press release on Tuesday, the parties revealed a purchase agreement valued at around USD $ 179 million. The agreement values ​​the actions of Wonderfi at C $ 0.36 each – a 41% cousin at its closing price of May 12 in the Toronto Stock Exchange and a 71% premium at the average negotiation price weighted by volume of 30 days.

This movement represents a firm bet of Robinhood for strengthening and expanding its position in the cryptocurrency sector and digital financial services. It is also part of a broader strategy of the platform to expand its internationally cryptocurrency business, thus carrying its innovative model of financial services beyond the US borders.

In an environment where competition between trading and cryptocurrency platforms is increasingly intense, Robinhood It seeks to differentiate and increase its global user base.

Robinhood expands to Canada with the purchase of Wonderfi

In recent years, cryptocurrency market growth has been remarkable worldwide. Wonderfiwhich operates some of Canada’s oldest platforms, stressed to facilitate access to a variety of digital assets and solutions Blockchainpositioning itself as key actors in this technological revolution.

“Wonderfi has created a formidable family of brands that serve beginner and advanced cryptography users equally, which makes them an ideal partner to accelerate Robinhood’s mission in Canada,” said Johann Kerbrat, senior vice president and general manager of Robinhood Crypto, in the statement.

Wonderfi operates recorded cryptocurrency platforms, including BitbuyCoinsquare and Smartpay, and currently has more than $ 2.1 billion Canadian dollars in customer assets in custody.

“We hope to partner with the Wonderfi team to offer innovative cryptographic products and user -centered to Canadian customers,” Kerbrat added.

The Wonderfi leadership team will continue to operate under the Robinhood Crypto division as part of the agreement, which will also make Wonderfi employees join Robinhood, adding their more than 140 employees in Canada. Robinhood opened a Canadian headquarters in Toronto last year, as The Block recalls.

Ola of agreements and acquisitions in crypto

Robinhood’s decision to acquire Wonderfi reflects the growing importance of having a diversified and robust offer in the digital field to compete with other leading companies in the market, such as Coinbase or Binance.

It also underlines the growing appetite of traditional brokerage platforms in integrating advanced cryptocurrency services. This strategic movement adds to a global trend where Fintech and Crypt converge, promoting the creation of new products and services for an increasingly digitized generation.

The purchase also occurs at a time when a more favorable regulatory panorama in the United States has motivated mergers and acquisitions in the emerging industry. Recent high -profile agreements include Coinbase per USD $ 2.9 billion to acquire Deribit, Kraken disburseing USD $ 1.5 billion to buy Ninjatrader and one from Ripple for USD $ 1.25 billion for the acquisition of Hidden Road.

Last year, Robinhood Markets also agreed to acquire the European cryptocurrency exchange Bitstamp For a sum of USD $ 200 million to expand outside your US market.

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Article written with the help of an AI, edited by Hannah Pérez / Diariobitcoin

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