Robinhood Agrees to Buy Crypto-Platform Operator WonderFi (1)

Robinhood Markets Inc. agreed to acquire WonderFi Technologies Inc., the operator of two Canadian cryptocurrency platforms, for about C$250 million ($179 million) in cash.

The fintech will purchase all of WonderFi’s issued and outstanding common shares for 36 Canadian cents apiece, 41% higher than the closing price Monday, according to a statement Tuesday. WonderFi has more than C$2.1 billion in assets under custody.

WonderFi’s crypto offerings will help Robinhood bring Canadians greater access to crypto trading, the companies said in the statement. Menlo Park, California-based Robinhood, best known for its retail investing services, has been expanding globally, and said ...