Canada's crypto remittances to Asia surge 141% to $2.36B, Chainalysis reports

Remittance-sized crypto transfers from Canada to India, China, and the Philippines increased by 141% year-over-year, reaching $2.36 billion, according to a new Chainalysis report. These three countries accounted for 194% of Canada’s outbound cross-border stablecoin value, up from 10.9% in the previous year, across 3.56 million transactions in the 12 months ending June 2026, averaging $663 per transaction. Chainalysis ranked Canada as the strongest peer-to-peer (P2P) crypto economy among G7 nations, citing its large foreign-born population (about 23% of Canada's population) and the high cost of traditional remittance services, which the World Bank estimates at 6.7%.