Australia's Digital Finance Strategy Could Yield Billions in Economic Gains

According to Foresight News, a recent study unveiled at the Australian Digital Economy Conference suggests that a strategic approach to innovation in the digital finance sector could generate substantial economic benefits for Australia. The research highlights foreign exchange as the largest opportunity, with an estimated annual benefit of approximately $4.8 billion. Cross-border payments follow closely, with potential gains of $7.6 billion per year. The study also identifies opportunities across various asset classes, including investment funds, which could see benefits of $670 million, private credit with $1.34 billion, public debt at $1.07 billion, and private equity with $800 million. Even niche markets like carbon credits could realize potential gains through tokenization and streamlined transactions. These findings underscore the significant economic potential that could be unlocked through strategic innovation in Australia's digital finance industry.