Australia could gain up to $12 billion each year by adopting a strong strategy for digital finance reform, new research shows. The findings were presented at the Australian Digital Economy Conference in Gold Coast, Queensland, and highlight how blockchain technology and smarter regulations could reshape the country’s financial future.
The research outlines where the biggest gains could be made. Cross-border payments and foreign exchange top the list, offering an estimated combined benefit of over $12 billion annually. Foreign exchange alone could contribute about $4.8 billion, while cross-border payments could add $7.6 billion.
Other potential growth areas include private credit ($1.34 billion), public debt ($1.07 billion), private equity ($800 million), and investment funds ($670 million). Even smaller markets, like carbon credits, could benefit through new technology such as tokenization, which makes trading faster and easier.
Despite this promise, the current path Australia is on may only unlock $1.8 billion per year in new value by 2030. This is far below the full potential, according to the research. The main problem lies in slow progress, unclear rules, and barriers in parts of the financial sector.
The study highlights how blockchain can cut costs and delays in financial transactions. By removing middlemen and allowing instant settlements, deals that used to take days and cost dollars can now happen in seconds and cost just cents. This can create entirely new markets and boost productivity.
Talis Putnins, chief scientist at the Digital Finance Cooperative Research Centre, says the country is at a turning point. With strong action and teamwork, Australia can become a leader in digital finance. But that will require speed and clarity in how the government and industry move forward.
Kate Cooper, CEO of OKX Australia, agrees. She says the current figures reflect only a part of the total benefits that digital finance could bring. In her view, clear rules and access to basic banking services are key to helping innovators thrive.
Australia already has the tools it needs: advanced financial markets, good tech skills, and a growing digital sector. However, key parts of the system, such as private credit and real estate, have been slow to embrace digital changes due to legal and infrastructure issues.
Cooper believes these issues are holding back innovation. She points to the Treasury’s upcoming digital asset policy as a positive step. But she warns that unless it moves quickly, businesses will continue to face roadblocks.
Amy-Rose Goodey, CEO of the Digital Economy Cooperative Alliance, says the question is no longer whether Australia can achieve this growth—it’s how fast it can act. She emphasizes the need for joint efforts and smart planning to unlock the full economic potential.
The report suggests that with proper action, Australia can build a global digital finance hub. The right mix of policy, innovation, and infrastructure could bring billions into the economy and help position the country at the forefront of financial technology.
A final, more detailed report is expected by November, offering deeper insights and recommendations for how to move forward.
