Canada’s P2P crypto activity fell from a 650,000 monthly peak alongside declining student permits, according to a new Chainalysis study.
- Canada's peer-to-peer (P2P) crypto activity has declined from a peak in spring 2024, correlating with a significant drop in international student permits.
- Chainalysis noted this association, suggesting immigrants use crypto for cheaper cross-border money transfers, though causality is not established.
- Payment providers are exploring stablecoin settlements for remittances, but challenges remain in local currency conversion and liquidity.
Topics: Jurisdictions, Scalability, Blockchain usage, Emerging hubs, Retail global adoption, Layer 2 scaling solutions
Tags: #p2pcrypto #canada #studentpermits #chainalysis #stablecoin #remittances #internationalstudents #crossborderpayments #bpi #philippinepeso
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