Canada-to-Asia crypto remittances jump 141% to $2.36B, Chainalysis says

Crypto remittances from Canada into three major Asian corridors have more than doubled year over year. A new Chainalysis report, covered by Cointelegraph, puts remittance-sized transfers to India, China and the Philippines at $2.36 billion in the 12 months ending June 2026 — a 141% jump.

The numbers

Chainalysis said the three countries accounted for 19.4% of Canada’s outbound cross-border stablecoin value, up from 10.9% a year earlier. Across those corridors it counted 3.56 million transactions averaging $663 each.

Additional figures shared with Cointelegraph by head of research Eric Jardine put the Canada–Philippines corridor alone at $61.02 million over 73,564 transactions — up 28% in value and 34.7% in count. The analysis covers Bitcoin and stablecoins above $10,000 moving to and from personal wallets.

Why Canada stands out

Chainalysis ranked Canada the strongest peer-to-peer crypto economy among G7 nations, citing a large foreign-born population and the cost of traditional remittance rails. Canadian Web3 Council executive director Morva Rohani noted that about 23% of Canada’s population is foreign-born — the highest share in the G7 — with heavy use of corridors to India, the Philippines, Nigeria, Pakistan and China.

Stablecoins made up 44% of Canadian-dollar order-book volume in June, up from 30% a year earlier. Chainalysis cited World Bank estimates putting the average cost of sending money from Canada at 6.7%, while stressing that low onchain fees do not erase FX and cash-out costs.

Context

Earlier Chainalysis work put global cross-border stablecoin flows at $220.3 billion in the year through June, up 77.5%. The Canada figures are corridor snapshots, not proof that every transfer is an informal family remittance — large personal-wallet flows can mix genuine remittances with other uses.