Robinhood completes its acquisition of Canadian crypto firm WonderFi after receiving the final required regulatory approval from Canada’s CIRO (Canadian Investment Regulatory Organization). Multiple outlets report that CIRO’s approval clears the last regulatory hurdle for the deal valued at about $180 million, with a closing date expected around June 1. The acquisition brings WonderFi’s crypto trading platforms, including Bitbuy and Coinsquare, under Robinhood’s control, extending Robinhood’s presence in Canada. After the transaction closes, users of WonderFi’s platforms are expected to be invited to continue using their crypto services through the Robinhood app, according to reporting from The Block. PYMNTS also notes that WonderFi’s sale is intended to help broaden Robinhood’s capacity to offer digital asset and programmable finance products. Coverage from Globe and Mail adds that Robinhood is positioning its move as a step toward becoming a leading player in Canada’s DIY investing market. Across the reports, the key shared development is CIRO’s approval of the WonderFi acquisition and Robinhood’s plan to integrate WonderFi’s operations into its Canadian offering.
Robinhood closes $180M WonderFi deal after CIRO approval to enter Canada
Robinhood completes its acquisition of Canadian crypto firm WonderFi after receiving the final required regulatory approval from Canada’s CIRO (Canadian Investment Regulatory Organization). Multiple o...
- CIRO approves Robinhood’s acquisition of WonderFi, clearing the final regulatory hurdle.
- The deal is reported to be worth about $180 million.
- WonderFi’s platforms Bitbuy and Coinsquare come under Robinhood’s control after the acquisition.
- After closing, WonderFi platform users are expected to be invited to continue via the Robinhood app.
- Robinhood’s entry into Canada follows the approval process, with closing timing reported around June 1.
Robinhood will enter Canada after its WonderFi acquisition brought local crypto exchanges Bitbuy and Coinsquare under its control.
2 months agoUsers of WonderFi's crypto platforms Bitbuy and Coinsquare will be invited to continue on the Robinhood app.
2 months agoPopular U.S. trading platform aims to be a top player in the Canadian DIY investing space, executive says
2 months agoCanada's CIRO approved Robinhood's acquisition of WonderFi, clearing the final regulatory hurdle ahead of an expected June 1 close.
3 months agoCanadian regulators have approved Robinhood’s bid to acquire digital asset products and services company WonderFi. The Toronto-based WonderFi announced Monday (May 25) that the Canadian Investment Regulatory Organization (CIRO) had approved the deal, which Robinhood has said will help deepen its capacity to offer programmable finance products. “Canada is home to one of the fastest-growing […] The post Robinhood’s Purchase of WonderFi OK’d by Canadian Regulators appeared first on PYMNTS.com.
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