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.

Robinhood Markets (NASDAQ:HOOD)  agreed to acquire WonderFi Technologies (OTCQB:WONDF) (WNDR:CA) for a total equity value of C$250M (US$179M), boosting Robinhood's crypto business in Canada, the companies said on Tuesday.