Crypto transfers from Canada to India, China, and the Philippines rose 141% year-on-year to $2.36 billion in the 12 months through June 2026 as digital assets gained traction in cross-border payments, blockchain analytics firm, Chainalysis, said.
The three corridors accounted for 19.4% of Canada’s outbound cross-border stablecoin value, up from 10.9% a year earlier. The transfers totalled 3.56 million transactions with an average value of $663, according to the report.
Canada-to-Philippines crypto transfers reached $61.02 million across 73,564 transactions rising 28% in value and 34.7% in transaction count, according to additional data by Chainalysis.
Chainalysis ranked Canada as the strongest peer-to-peer crypto economy among Group of Seven nations citing its large immigrant population and the cost of traditional remittance services as potential drivers of adoption.
About 23% of Canada’s population was born abroad, the highest proportion among G7 countries, according to the Canadian Web3 Council. The organisation said remittance corridors linking Canada with India, the Philippines, Nigeria, Pakistan, and China were heavily used.
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Stablecoins accounted for 44% of Canadian dollar-based order book volume in June 2026, up from 30% a year earlier, Chainalysis found. The firm also cited World Bank estimates that sending money from Canada costs an average of 6.7%.
While blockchain transfers can reduce settlement costs, currency conversion, and cash-out fees remain additional expenses for users.
The findings highlight the growing role of crypto in international payments, particularly among populations with regular cross-border financial obligations. However, the figures measure crypto transfers rather than the total remittance market and do not establish how much activity has shifted from traditional payment providers.
REPORT | The 2026 Global Crypto Adoption Index by Chainalysis
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