Canada crypto remittances to Asian countries surge 141% to $2.36B
Remittance-sized crypto transfers from Canada to three Asian countries hit $2.36 billion, with the Philippines seeing a 28% rise to $61 million, Chainalysis data shows.
Crypto remittances from Canada to Asian countries jumped 141% to $2.36 billion, with the Philippines up 28% to $61 million, per Chainalysis.
The numbers
Crypto remittances from Canada to three Asian countries reached $2.36 billion, a 141% jump, according to blockchain analytics firm Chainalysis, as reported by Cointelegraph. Remittance-sized transfers to the Philippines alone rose 28% to $61 million. The data covers transfers that are sized like typical remittances.
What we know
The report summary does not name the other two countries. The figures show crypto being used for cross-border money movement, but no further details are provided. The takeaway: Chainalysis data shows a sharp rise in crypto remittances from Canada to Asia, with the Philippines seeing notable growth.
Summary written by Oh Cannot from the original report by Cointelegraph. Not financial advice.
