Mentioned:
HOOD -0.80% WNDR +0.70%

Robinhood is on the verge of fulfilling a new ambition: becoming one of the biggest players in Canadian crypto.

What’s happening:

  • WonderFi Technologies (TSX: WNDR) has received regulatory approval from the Canadian Investment Regulatory Organization to be acquired by Robinhood (NASDAQ: HOOD)

Why it matters:‍

  • The new approval from the Canadian Investment Regulatory Organization represents the final legal approval required for WonderFi Technologies to be able to close their acquisition agreement with Robinhood

Going deeper:‍

  • Robinhood is paying roughly $250M CAD in cash to purchase WonderFi Technologies
  • WonderFi Technologies’ crypto trading platforms Bitbuy and Coinsquare have approximately $2.1B CAD in assets under custody and will be wholly owned by Robinhood following the successful closing of the acquisition

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