Chainalysis: USDC-led stablecoins take 44% of Canadian dollar crypto volume

Canadians trading crypto with their own dollars are increasingly buying something designed not to move. By June 2026, stablecoins accounted for 44% of Canadian dollar crypto order book volume, according to Chainalysis. A year earlier, that share was 30%. The coin doing most of the work is USDC, a token pegged to the US dollar. The findings come from Chainalysis’s 2026 North America Crypto Adoption report, released in mid-October 2026. Stablecoins pull ahead of the classics The headline figure is the 14-percentage-point jump in stablecoin share over twelve months. That growth pushed stablecoins past traditional store-of-value assets, which made up only 29% of CAD order book volume. Within the stablecoin category, USDC dominated. Chainalysis found minimal activity in stablecoins pegged to the Canadian dollar itself. The broader numbers also stand out. Canada’s crypto economy grew 2.3% year over year, reaching $247.7 billion in the twelve months leading up to June 2026. That growth came while the wider North American market saw a slight decline. Remittances are doing the heavy lifting Chainalysis ties much of this stablecoin activity to strong peer-to-peer usage. The driver is demogra...