Crypto: Transfers from Canada to Three Asian Countries Surge by 141%

From family remittances to automated payments. An analysis by Chainalysis describes two uses of cryptocurrencies in North America: money transfers from Canada and micropayments by artificial intelligence agents in the United States. The amounts differ, but stablecoins provide a continuously available infrastructure in both cases, with the interest depending notably on the total transaction costs.

Key Points

• Transfers of less than $10,000 in stablecoins and bitcoin from Canada to three Asian countries reach $2.36 billion, up 141%.
• The study records 3.56 million transactions, with an average amount of $663.
• The United States accounts for 30% of geolocatable transactions between agents and services on x402.
• Reduced network fees do not necessarily include conversion and withdrawal costs in local currency.

From Canada, Crypto Transfers to Asia Progress

During the studied period in 2026, Chainalysis measures $2.36 billion in transfers in stablecoins and bitcoin from Canada to India, the Philippines, and China. This total concerns operations under $10,000 and has increased by 141% year-on-year.

Researchers record 3.56 million transactions, with an average amount of $663. These characteristics correspond to regular payments abroad, according to their analysis, without allowing for the certain identification of each transfer's purpose.

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

Cost is an additional argument. According to data from the World Bank 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 fee does not necessarily cover the purchase of the stablecoin, its conversion, or its withdrawal at the destination.

Image extracted from Chainalysis' publication on remittances from Canada -- Source: Account X

In the United States, AI Agents Multiply Micropayments

The other aspect of the study focuses on x402, a payment protocol developed by Coinbase that allows software to pay for access to services. Agents funded from the United States represent 30% of transactions between agents and services that Chainalysis can geolocate.

This presence is concentrated on certain uses: American wallets account for 88.1% of geolocated transactions related 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 reaches 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. The most frequent range is from one to ten cents.

These low amounts allow for billing a request, data, or computation per unit. However, the experts interviewed describe still 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 enabling very low-value automated payments. Their utility relies on accessible services and controlled fees throughout the entire process.

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