Canada P2P crypto activity falls from 650,000 peak as student numbers drop

Canada’s monthly peer-to-peer crypto activity has fallen from a spring 2024 peak near 650,000 transactions alongside a decline in study permits, a pattern Chainalysis has linked to changes in the country’s international student population. The study describes a population-level correlation, without establishing that international students caused the transaction decline. Government figures show 71% fewer new student arrivals in January–August 2026 than two years earlier. Payment providers report lower transfer costs, but local currency conversion remains a separate operational challenge. Philippine bank BPI has tested stablecoin settlement for overseas earnings paid into customers’ bank accounts.