AU $19 billion per year economic impact could be unlocked through digital finance innovation: new research
16 June 2025 — New research released today reveals that around AU $19 billion per year in economic gains – approximately 1% of Australia’s GDP – could be unlocked for Australia through digital finance innovation in markets and cross-border payments.
The first stage of the research, launched today at the Australian Digital Economy Conference at the Gold Coast, is part of The Economic Impact Potential of Digital Finance Innovation in Australia Report, to be released at the end of the year. The report’s research has been undertaken by the Digital Finance Cooperative Research Centre (DFCRC), in collaboration with the Digital Economy Council of Australia (DECA), and is sponsored by OKX.
Initial report findings show that digital finance innovation in two segments alone – markets and cross-border payments – can unlock around AU $7.2 billion per year and around AU $11.4 billion per year respectively for Australia.
The research found that the asset class with the largest potential for Australian economic gain is foreign exchange, estimated at AUD$7.2 billion annually. Other asset classes with a high potential for economic gain include investment funds ($1.0 billion), private/public credit ($2 billion and $1.6 billion), and private equity ($1.2 billion), due to substantial current inefficiencies and their moderate turnover.
However, the research also reveals that, on its current trajectory, digital finance innovation is only expected to unlock around $1.8 billion per year of economic gains by 2030. That is because adoption of Digital Finance innovation requires substantial industry-wide changes that take time. While the gains estimated by 2030 reflect the current trajectory of the sector, the research highlights the opportunity to accelerate adoption to unlock more of the gains, sooner. This could be achieved through a combination of innovation-enabling regulatory and policy initiatives and greater industry-wide collaboration.
The calculation methodologies developed by DFCRC for the report measure how digital finance innovation enhances the exchange of value, facilitating more exchange in existing markets, and creating new exchange of value in areas where markets previously did not exist. The methodology encompasses the contributions that digital finance can make to economic productivity uplift and GDP.
The final report, to be released in November 2025, will estimate the overall size of the potential economic gains that could be realised from digital asset innovation across the Australian economy, estimate the impact of innovation-fostering policy and regulatory reforms, and compare Australia’s opportunity with global leaders.
DFCRC Chief Scientist, Tālis Putniņš, said: “We’re currently at a pivotal juncture for digital finance globally and Australia has a strategic opportunity to capitalise on this and position itself as a competitive, innovation-friendly financial hub. This research highlights the large potential economic gains that can be unlocked via digital finance innovation in just two key segments alone.
“While our research shows Australia isn’t currently on track to realise even half of the potential economic gains by 2030, the good news is that Australia is at a key fork in the road in terms of where we go from here and by working together, and at pace, we can choose a path that allows us to seize this opportunity and make Australia a digital finance leader.
“We’re looking forward to what the further stages of the research reveal in terms of the additional potential economic gains that could be realised.”
DECA CEO, Amy-Rose Goodey, said: "In DECA’s ongoing engagement with the Government, this type of robust, evidence-based economic analysis has been explicitly identified as necessary.
“This body of work has already been raised in policy discussions as a critical contribution to understanding the economic value of digital finance and the broader impact on Australia’s future. It lays the groundwork for more informed, coordinated decisions as we shape the next chapter of Australia’s digital economy."
OKX Australia CEO Kate Cooper said: “This comprehensive research, led by the DFCRC team, quantifies what many of us have observed: the transformative economic potential of digital technologies.
“Even more promising is the additional research and economic potential estimates to come in the final report, as the $19 billion forecast captures just two segments currently. We also know that there are additional benefits to be gained from digital finance innovation beyond economic impact.”
