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,

Robinhood revealed Tuesday that it’s acquiring Canadian crypto leader WonderFi for CA$250 million (around $178.56 million) in an all-cash deal.

Haywood Capital Markets analyst Gianluca Tucci says the $0.36-per-share all-cash offer undervalues WonderFi’s strong position in Canada’s crypto market and leaves room for a higher bid, even as the deal gives Robinhood a fast track into the country’s financial landscape.