ROOT
Digital finance innovation could deliver $19 billion annual boost to Australian economy
ROOT
Digital finance innovation could deliver $19 billion annual boost to Australian economy
Digital finance innovation has the potential to deliver $19 billion in annual economic gains to Australia, according to new research from the Digital Finance Cooperative Research Centre.
Digital finance innovation could deliver $19 billion annual boost to Australian economy
Digital finance innovation has the potential to deliver $19 billion in annual economic gains to Australia, according to new research from the Digital Finance Cooperative Research Centre.
The study, conducted in collaboration with the Digital Economy Council of Australia and sponsored by OKX, identified significant opportunities across existing markets and cross-border payments.
Markets represent $11.4 billion in potential annual gains, while cross-border payments could deliver $7.2 billion per year.
Foreign exchange leads the potential gains by asset class at $7.2 billion, followed by private debt ($1.98 billion), commodities ($1.76 billion) and over-the-counter derivatives ($1.58 billion).
Real estate and public debt each represent $1.58 billion and $1.46 billion in potential gains respectively.
Private equity could deliver $1.18 billion annually, with investment funds ($1.03 billion) and public equities ($853 million) also offering significant opportunities.
Carbon credits represent the smallest opportunity at $2 million annually.
However, the research highlights that on its current trajectory, digital finance innovation is only expected to unlock economic gains of around $1.8 billion per year by 2030.
This represents less than 10 per cent of the total $19 billion in potential gains identified by the study.
The research suggests there is an opportunity to accelerate gains by 2030 through implementing regulation that fosters innovation and digital finance adoption.
The initial findings represent the first phase of research, with a final report scheduled for release in November 2025.
The final report will examine the overall size of potential economic gains from digital asset innovation across the Australian economy and the impact of implementing supportive regulation.
It will also explore what Australia can learn from overseas experiences in digital finance innovation.
The Digital Finance Cooperative Research Centre collaborated with the Digital Economy Council of Australia on the research, which was sponsored by cryptocurrency exchange OKX.
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