Canada crypto remittances to Asian countries surge 141% to $2.36B: Chainalysis

Remittance-sized crypto transfers from Canada to India, China and the Philippines surged 141% year-over-year to $2.36 billion, as digital asset payments expanded across the three major remittance corridors. 

According to a new Chainalysis report, the three countries accounted for 194% of Canada’s outbound cross-border stablecoin value, up from 10.9% in the previous year. Transfers totaled 3.56 million transactions in the 12 months ending June 2026, averaging $663 per transaction. 

Referring to additional data shared with Cointelegraph, Chainalysis head of research Eric Jardine said Canada-to-Philippines crypto remittances alone reached $61.02 million across 73,564 transactions, up 28% and 34.7%. The analysis covers Bitcoin and stablecoins above $10,000 to and from personal wallets.

Chainalysis ranked Canada as the strongest peer-to-peer (P2P) crypto economy among G7 nations, pointing to its large foreign-born population and the cost of traditional remittance services as potential adoption drivers. 

Stablecoins gain ground in Canada’s remittance corridors

About 23% of Canada’s population is foreign-born, the highest share in the G7, according to Morva Rohani, executive director of the Canadian Web3 Council.