Canada crypto transfers to Asia climb 141% to $2.36B

• Cryptocurrency transfers from Canada to India, China and the Philippines reached US$2.36 billion.
• The total rose 141% year-on-year in the 12 months ending June 2026.
• The three Asian destinations accounted for 19.4% of Canada’s outbound stablecoin value, up from 10.9% a year earlier.

Crypto transfers from Canada to India, China and the Philippines reached US$2.36 billion, up 141% year-on-year, according to Chainalysis’ 2026 Geography of Cryptocurrency Report.

The transfers spanned 3.56 million transactions, averaging US$663 each during the 12 months ending June 2026.

“Remittance corridors to India, the Philippines, Nigeria, Pakistan, and China are heavily used,” according to Morva Rohani, Executive Director of the Canadian Web3 Council.

The three Asian destinations accounted for 19.4% of Canada’s outbound cross-border stablecoin value, up from 10.9% a year earlier.

Chainalysis linked Canada’s remittance activity partly to its immigrant population, with foreign-born residents representing about 23% of the population.

The report found stablecoins made up 44% of Canadian dollar-based crypto order-book volume by June 2026, compared with 30% a year earlier.

Traditional remittance services remain more expensive, with the World Bank estimating Canada’s average sending cost at 6.7%, while stablecoin transfers can cost a cent or less.

The findings point to growing use of crypto rails for cross-border payments, although the US$2.36 billion represents only part of Canada’s overall remittance market.