Canada crypto remittances to Asia surge 141% to $2.36 billion

Remittance-sized cryptocurrency transfers from Canada to India, China, and the Philippines surged 141% year-over-year to $2.36 billion in the 12 months ending June 2026, according to a new report from blockchain analytics firm Chainalysis.

The three countries accounted for 19.4% of Canada’s outbound cross-border stablecoin value, up from 10.9% the previous year. The flows comprised 3.56 million transactions, averaging $663 each, and included Bitcoin and stablecoin transfers above $10,000 to and from personal wallets.

Chainalysis highlighted Canada’s large foreign-born population—the highest share in the G7—and the cost of traditional remittance services as key drivers for adoption. The firm ranked Canada as the strongest peer-to-peer crypto economy among G7 nations.

In a specific corridor, crypto remittances from Canada to the Philippines alone grew 28% to $61.02 million. The report also noted that stablecoins accounted for 44% of Canadian dollar-based order book volume in June, up from 30% a year earlier.