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,

WonderFi's platforms, Bitbuy and Coinsquare, bolster Robinhood's international expansion efforts in the crypto market.

Robinhood said on Tuesday it will buy Canadian crypto firm WonderFi for C$250 million ($178.98 million), as the popular commission-free brokerage looks to expand its international footprint. The all-cash deal values WonderFi at 36 Canadian cents per share,