Julian Klymochko Reacts to Robinhood’s $250M WonderFi Acquisition

Julian Klymochko, CEO of Accelerate Financial Technologies, reacted to Robinhood’s WonderFi acquisition. On May 13, he said, “Several years ago, all of the Canadian crypto exchanges consolidated into one, creating a business called WonderFi (named after Mr. Wonderful himself, Kevin O’Leary). WonderFi is now getting acquired by Robinhood for $250 million.” His comment captures the moment well. Canada’s once fragmented crypto scene is now making global headlines. With this acquisition, Robinhood enters the Canadian market in a big way, setting the stage for what could be a turning point in the Canadian crypto future. 

Deal Highlights: Robinhood Steps into Canada

On Monday, Robinhood Markets, Inc. announced that it will buy WonderFi Technologies Inc. in an all-cash deal worth approximately C$250 million. WonderFi is one of Canada’s most well-known digital asset companies, and this deal will bring its popular platforms. Bitbuy and Coinsquare are come under Robinhood’s umbrella.

Bitbuy and Coinsquare are trusted and regulated crypto exchanges that have served Canadian users for years. Together, they currently manage more than C$2.1 billion in assets under custody. With this move, Robinhood isn’t just acquiring a company, it’s planting its flag in a mature and trusted market.

Partnership Value: Breaking Down the Price and Premium

Robinhood has agreed to pay C$0.36 per WonderFi share, which is a 41% premium over WonderFi’s last closing price on the Toronto Stock Exchange. It also reflects a 71% premium over the 30-day volume-weighted average. That’s a bold offer, and one that sends a message: Robinhood is serious about its entry into Canada.

This transaction will be carried out under British Columbia’s corporate laws through a statutory plan of arrangement. The generous pricing signals confidence in WonderFi’s existing user base, strong infrastructure, and future growth potential under Robinhood’s guidance.

Robinhood’s Acquisition of WonderFi

Robinhood and WonderFi share a clear vision, making crypto easier to access for everyone. WonderFi’s platforms already offer Canadians regulated, secure access to digital assets. Robinhood wants to expand that reach and enhance it with its global expertise and technology. Johann Kerbrat, SVP and GM of Robinhood Crypto, said, “We look forward to partnering with the WonderFi team to deliver innovative, user-centric crypto products to Canadian customers.”

WonderFi’s President and CEO, Dean Skurka, said, “WonderFi and Robinhood are united in our visions of making crypto accessible and bringing more people into the crypto space.” Together, they plan to create a more open and intuitive experience for crypto users in Canada.

The acquisition will close in the second half of 2025, once it gets the green light from shareholders and regulators. Until then, WonderFi, Bitbuy, and Coinsquare will continue operating as usual. For current users, that means no disruptions.

However, once the dust settles, Canadians can expect a wave of new features and a smoother user experience, powered by Robinhood’s global resources. This isn’t just a name change, it’s a major upgrade in how crypto is going to enhance in Canada.

Advisors and Legal Teams Behind the Deal

Robinhood received financial advice from J.P. Morgan Securities, LLC, with Davies Ward Phillips & Vineberg LLP serving as legal counsel. On WonderFi’s side, FT Partners acted as the main financial advisor, while Canaccord Financial and Origin Merchant Partners provided fairness opinions. The company’s special committee was advised by PowerOne Capital Markets, with Goodmans LLP offering legal guidance. Additionally, Cassels Brock & Blackwell LLP handled WonderFi’s legal matters, and Mintz LLP advised on regulatory issues.

Why Robinhood’s WonderFi Deal Matters for Canada?

Julian Klymochko’s reaction reflects the bigger picture. Years ago, Canada’s crypto platforms came together to form WonderFi. Now, they’re joining forces with one of the biggest fintech names in the world. This isn’t just an acquisition, it’s a recognition that Canada’s crypto ecosystem has matured and is ready for the global stage. As Robinhood enters the scene, the next chapter in the Canadian crypto future begins, one that could reshape how everyday Canadians interact with digital assets.