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008260522t20262026onca    ob   f000 0 eng d
040 |aCaOODSP|beng|erda|cCaOODSP
0861 |aFB3-5/2026-15E-PDF
1001 |aFriedrich, Christian, |d1983- |eauthor.
24510|aPatterns and determinants of global cryptocurrency flows / |cChristian Friedrich, Laura Zhao.
264 1|a[Ottawa] : |bBank of Canada = Banque du Canada, |c2026.
264 4|c©2026
300 |a1 online resource (71 pages) : |bcolour illustrations.
336 |atext|btxt|2rdacontent
337 |acomputer|bc|2rdamedia
338 |aonline resource|bcr|2rdacarrier
4901 |aStaff working paper = Document de travail du personnel, |y1701-9397 ; |v2026-15
500 |aIncorrect ISSN (1701-9397) printed in this publication.
500 |a"Last updated: May 7, 2026."
504 |aIncludes bibliographical references (pages 36-40).
5203 |a"In this paper, we examine the patterns and determinants of cross-border cryptocurrency flows. While our analysis focuses primarily on Bitcoin flows, the cryptocurrency with the largest market capitalization, we show that our key results also extend to four major stablecoins. After documenting global patterns of cross-border Bitcoin flows and contrasting them with those of traditional capital flows, we employ a cross-country panel approach to identify the key drivers of cross-border crypto flows for up to 162 countries. Our results provide evidence for the presence of multiple coexisting motives. The most significant motives comprise strategies to adjust to unfavorable macro and financial developments, as well as the need to conduct international payment and remittance transfers. Moreover, by conducting a case study of cross-border Bitcoin flows after the COVID-19 shock, we find that these motives were particularly relevant at a time when economic conditions were weak and the need for remittances appeared high. Gaining a better understanding of the motives behind cross-border cryptocurrency transactions is crucial for informing the public debate on cryptocurrencies and their potential use cases"--Abstract.
650 0|aBitcoin.
650 0|aCryptocurrencies.
650 0|aCapital movements.
650 6|aBitcoin.
650 6|aCryptomonnaie.
650 6|aMouvements de capitaux.
7102 |aBank of Canada, |eissuing body.
830#0|aStaff working paper (Bank of Canada)|v2026-15.|w(CaOODSP)9.806221
85640|qPDF|s3.16 MB|uhttps://publications.gc.ca/collections/collection_2026/banque-bank-canada/FB3-5-2026-15-eng.pdf