Crypto: Transfers from Canada to three Asian countries surge 141%

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Over the period studied in 2026, Chainalysis measures $2.36 billion in transfers in stablecoins and bitcoin from Canada to India, the Philippines and China. This total concerns transactions of less than $10,000 and increased by 141% over one year.

Researchers identify 3.56 million transactions, with an average amount of $663. These characteristics correspond to regular payments abroad, according to their analysis, without making it possible to identify with certainty the purpose of each transfer.

For stablecoins alone, the three destinations represent 19.4% of the value of cross-border flows out of Canada, compared to 10.9% a year earlier. Approximately 23% of the Canadian population was born abroad, a favorable context for family payments and international financial obligations.

Cost constitutes an additional argument. According to World Bank data cited in the study, sending money from Canada costs on average nearly 6.7%, and more than 7% via banks. Some blockchains allow transfers for a cent or less. However, this network rate does not necessarily cover the purchase of the stablecoin, its conversion or its withdrawal at the destination.

The other part of the study concerns x402, a payment protocol developed by Coinbase which allows software to regulate access to services. Agents funded from the United States represent 30% of transactions between agents and services that Chainalysis can geolocate.

This presence is focused on certain uses: American wallets account for 88.1% of geolocated transactions linked to the execution of AI models, 41.8% of payments for tools intended for agents and 23.2% for data and research services.

On Base, the cumulative number of x402 transactions reached 138.5 million in the third quarter of 2026, compared to 58,800 a year earlier. More than 87% of payments are between one hundredth of a cent and ten cents of a dollar. The most common range is from one to ten cents.

These low amounts make it possible to bill a query, data or calculation individually. However, the experts interviewed still describe an experimental market: the number of transactions is not enough to establish sustainable demand.

The two uses thus meet distinct needs: reducing the cost of existing transfers and making automated payments of very small amounts possible. Their usefulness is based on accessible services and controlled costs throughout the journey.

An editorial article. Le Journal du Coin, the first French-speaking news media on cryptocurrency, Bitcoin, and blockchain protocols.

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Machine-translated from French