Chainalysis: Canada-to-Asia stablecoin transfers jump 141%
- —Canada-to-Asia transfers hit $2.36 billion, up 141% year over year
- —3.56 million transactions averaging $663, all under $10,000
- —The three destinations account for 19.4% of Canada's outbound stablecoin value, up from 10.9%
- —Sending money from Canada costs about 6.7% on average via traditional channels
Why it matters: The data shows stablecoins becoming a primary remittance channel from Canada to Asia, displacing traditional transfer services.
Source: Journal du Coin