Australia Blockchain in Finance and Trade Market Size, Share, Growth and Forecast, 2025-2035

Licensed platforms and tokenized settlement lift revenue

The Australia blockchain in finance and trade market was valued at USD 714.5 million in 2025 and is projected to increase from USD 871.7 million in 2026 to USD 5.16 billion by 2035, registering a CAGR of 21.85% during 2026–2035. Revenue comes from retail investors who buy and sell digital assets on local exchanges, professional investors and self-managed super funds that need custody, and banks and traders that test tokenized settlement for bonds, receivables and cross-border payments. New South Wales held the largest regional share, 40.2% in 2025, because the state has the most residents, about 8.67 million in March 2026, and the deepest pool of investors. The remaining states and territories are the fastest-growing region at 22.41% a year, as Western Australia adds residents faster than any other state. In turn, a national licensing law for digital asset platforms received Royal Assent on April 8, 2026, and it will bring exchanges and custody providers under financial services rules from April 2027.

Which digital asset services does the estimate cover?

The estimate measures revenue earned by firms that run digital asset exchanges and brokerages, offer custody and investment products backed by digital assets, and provide distributed ledger services for payments, trade finance and tokenized securities in Australia. It counts trading fees and spreads, recurring platform fees and implementation and advisory fees earned from local customers.

The estimate excludes the market value of the digital assets themselves, mining income and general software sales that do not involve financial or trade transactions. The value chain runs from protocol networks and custody technology through licensed platforms and brokers to retail investors, institutions and trading enterprises in every state and territory.

Exchange trading leads while payments services grow fastest

Why does exchange trading hold the largest share?

Based on service type, the market is categorized into digital asset trading, investment and custody services, and trade finance and payments. Digital Asset Trading led with a 52.0% share of 2025 value, because retail investors pay spreads and fees each time they buy or sell on a local exchange. Trade Finance and Payments grow fastest at 23.43% a year, as stablecoins and deposit tokens start to settle invoices and cross-border trade payments.

How do investors, institutions and traders split spending?

Based on customer segment, the market is categorized into retail individuals, professional investors, financial institutions and trading enterprises. Retail Individuals led with a 46.0% share of 2025 value, because about a third of adult Australians have held crypto. Financial Institutions grow fastest at 23.15% a year, as banks and fund managers build tokenized bond, deposit and settlement services.

Why do direct apps remain the main channel?

Based on distribution channel, the market is categorized into direct digital platforms, relationship-led sales and embedded partner channels. Direct Digital Platforms led with 63.0% of 2025 value, because most retail investors open accounts through exchange apps and websites. Embedded Partner Channels grow fastest at 23.30% a year, as brokers, payment firms and super platforms add digital asset access inside their own services.

How do local exchanges and global entrants divide revenue?

Based on institution type, the market is categorized into domestic exchanges, international exchange subsidiaries, specialist financial platforms and enterprise infrastructure vendors. Domestic Exchanges led with a 44.0% share of 2025 value, because local brands built large retail customer bases early. Enterprise Infrastructure Vendors grow fastest at 23.41% a year, as banks hire ledger and custody technology for tokenized settlement projects.

Retail holders, new capital and wholesale pilots lift demand

How do retail holders lift trading revenue?

Each funded exchange account generates spreads and fees whenever its owner buys, sells or converts digital assets, so a wider holder base lifts revenue directly. About 33% of Australians have invested in or held crypto, according to the 2026 survey of more than 2,000 adults published by exchange operator Independent Reserve on March 17, 2026. The same survey found 31% a year earlier, which shows a broad and still rising holder base. Swyftx, which agreed to buy brokerage Caleb and Brown in July 2025, serves more than 1.2 million customers. Account ownership at financial institutions reached 98.0% of adults in 2024, according to the World Bank, so most investors can fund accounts instantly. As a result, retail individuals hold 46.0% of 2025 value.

Why do institutional owners and new capital support growth?

New owners and partners bring capital, licenses and corporate clients that local exchanges could not reach alone, which widens the paying customer base. IG Group agreed on Sept. 19, 2025, to buy Independent Reserve, which then reported about 11,600 monthly active customers, up 60% on the year. IG acquired a majority stake in February 2026, and the exchange plans corporate payment and yield products for the second half of 2026. OKX Australia opened its platform to self-managed super fund trustees on Sept. 15, 2025, targeting funds that hold about a quarter of national retirement savings. DigitalX raised about AUD 20.7 million in a July 2025 placement to grow its bitcoin holdings. In turn, professional investors and advised channels gain weight, while international exchange subsidiaries widen their product range.

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How does wholesale tokenization testing open new revenue?

Banks, fund managers and exchanges now pay for ledger, custody and settlement services that move real assets rather than simulated ones. The Reserve Bank of Australia selected 24 use cases for Project Acacia on July 10, 2025, including 19 pilots with real money and real assets across fixed income, private markets, trade receivables and carbon credits. The final report on May 18, 2026, covered 20 use cases, and the bank issued AUD 4.4 million in pilot wholesale central bank digital currency. ANZ tested the exchange of a tokenized trade payable for its A$DC token, while Zerocap piloted a tokenized government bond paid in stablecoin. As a result, financial institutions grow at 23.15% a year, the fastest customer rate.

Why does platform licensing clarity raise customer trust?

Exchanges and custody providers will soon face the same conduct, custody and dispute rules as other financial firms, which gives cautious investors more confidence. The digital assets framework bill was introduced on Nov. 26, 2025, and the Parliamentary Library noted that an estimated 30,000 Australian investors were affected by the Terra and FTX collapses. Platforms with transactions below AUD 10 million over 12 months avoid licensing, which protects small entrants. The Senate approved the bill on April 2, 2026, and it received Royal Assent on April 8, 2026. In turn, investment and custody services gain ground on trading, which held 52.0% of 2025 value, as licensed custody spreads.

Stablecoins, retirement savings and bonds reshape services

How is the rise of stablecoins changing trade payments?

Importers and exporters want faster settlement without currency swings or long correspondent banking chains, and AUD-backed stablecoins now offer that option. XDC Network, a ledger network with trade finance expertise, partnered with AUD-backed stablecoin AUDD on Jan. 21, 2026, to settle Australia-U.S. business payments faster and at lower cost. The national regulator finalized relief on Dec. 9, 2025, that exempts intermediaries from separate licenses when they distribute eligible stablecoins and wrapped tokens, according to the Australian Securities and Investments Commission. NotCentralised also piloted a tokenized security backed by receivables and invoices under Project Acacia. As a result, trade finance and payments grow at 23.43% a year, the fastest service rate.

Why is the shift to regulated investment products notable?

Many investors now prefer exchange-traded funds and super platforms to holding tokens directly on an exchange, which moves fees toward regulated investment wrappers. The national securities exchange admitted its first spot bitcoin fund, the VanEck Bitcoin ETF, on June 20, 2024. DigitalX also supports its own exchange-listed bitcoin fund, BTXX, alongside its bitcoin treasury strategy. OKX Australia added dashboards and year-end reports for self-managed super fund trustees in September 2025. Self-managed super funds hold roughly a quarter of the AUD 4 trillion superannuation system, which gives such products a large base. In turn, direct digital platforms keep 63.0% of 2025 value, while advised channels expand alongside wider cryptocurrency demand.

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Can tokenized government bonds open a new wholesale market?

Banks and fund managers need settlement that runs around the clock with lower counterparty risk, and tokenized government bonds could meet that need. Project Acacia participants completed trades of up to AUD 250,000 across several use cases, and the final report found gains in capital efficiency and settlement. The central bank and its partners proposed a tokenized government bond initiative, a market infrastructure sandbox and further work on bank deposit tokens. The Digital Finance Cooperative Research Centre, the bank's research partner on Project Acacia, puts the economic potential of digital finance innovation at about AUD 24 billion a year. As a result, enterprise infrastructure vendors grow at 23.41% a year, as banks extend distributed ledger systems for banks into live settlement.

Is there room for embedded payments and yield services?

Corporate treasuries and brokers want digital asset access inside tools they already use, which leaves room for embedded payment and yield services. Independent Reserve plans payment capabilities for corporate customers and yield products, subject to approval, in the second half of 2026. Coinbase received a national financial services license with retail derivatives authorization by April 8, 2026, which lets it offer perpetual contracts to local customers. CoinJar, which is registered with the national financial intelligence agency, competes for the same retail customers as brokers and payment apps add digital asset access. In turn, embedded partner channels grow at 23.30% a year, and they connect with digital payment networks used by merchants.

Licensing costs, scams and transfer rules test providers

How does the Block Earner ruling raise licensing costs?

Yield products that platforms once ran without a license now clearly need one, which raises compliance costs for smaller firms. The High Court found on June 17, 2026, that the fixed-yield Earner product was a financial product under the Corporations Act. As a result, smaller platforms must hire compliance staff or partner with licensed firms. The regulator extended no-action relief to Sept. 30, 2026, for firms that lodge license applications, which gives providers time to adjust.

Why do scams and cash kiosks weigh on public confidence?

Older investors lose savings to scams routed through crypto automated teller machines, which damages public confidence in digital assets. The national financial intelligence agency counted more than 1,800 active crypto kiosks, up from 23 in 2019, and people over 50 made almost 72% of transactions by value. In turn, the agency imposed a AUD 5,000 cap on cash deposits and withdrawals. Exchanges respond with stronger customer checks and scam warnings, which protects trust while slowing some onboarding.

How do transfer rules and reporting add operating costs?

Every virtual asset transfer now needs sender and receiver data, which adds systems and staff costs for exchanges. The travel rule started on July 1, 2026, with no carve-out for small transfers, and newly regulated providers had to apply for enrollment by July 29, 2026. As a result, exchanges must upgrade monitoring systems and staff training. Larger platforms spread these costs across more customers, while smaller firms turn to shared compliance tools and specialist vendors.

Why does enforcement risk test product design?

The regulator now pursues platforms that launch credit or leveraged products without proper controls, which raises the stakes of product design. Bit Trade, the local operator of Kraken, was ordered on Dec. 12, 2024, to pay AUD 8 million over a margin extension product offered to more than 1,100 customers. In turn, exchanges now review target market rules before launching products. Providers respond by limiting leverage to wholesale clients and by testing new features with the regulator first.

New South Wales leads while smaller states grow fastest

New South Wales leads on population and investor depth

New South Wales held a 40.2% share of 2025 value and grows at 21.56% a year, because the state has the largest population and the deepest pool of retail and institutional investors. It had about 8.67 million residents at March 31, 2026, the most of any state, after adding about 97,000 people over the year. As a result, it leads retail trading, custody services and tokenized settlement pilots run by major banks and fund managers.

How does Victoria support exchange and custody demand?

Victoria held a 29.9% share of 2025 value and grows at 21.91% a year, because the state has the second-largest population and a large base of retail investors and super fund members. Victoria counted about 7.15 million residents at March 31, 2026, after 1.6% annual growth, and it added about 109,500 people, the largest increase of any state. In turn, the state remains the second-largest zone for retail trading accounts and super fund access to digital assets.

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What lifts demand in Queensland?

Queensland held a 24.7% share of 2025 value and grows at 22.11% a year, because its population growth matches Victoria and outpaces New South Wales. Queensland counted about 5.74 million residents at March 31, 2026, also after 1.6% annual growth, which added about 90,100 people in Brisbane, regional cities and coastal centers. As a result, retail trading and brokerage services expand faster than in New South Wales.

Why do the remaining states and territories grow fastest?

The remaining states and territories accounted for 5.2% of 2025 value and grow fastest at 22.41% a year. Western Australia recorded the fastest population growth, 2.1% in the year to March 2026, which adds new investors faster than in the eastern states. As a result, payments services and retail trading gain from a small base.

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Licensing, pilot and ownership moves, 2024–2026

Custody, settlement tokens and ledgers change supply

• Institutional custody systems combine key management, segregated wallets and reconciliation tools, which lets platforms hold client assets in omnibus accounts under the record-keeping conditions set by the regulator.
• Settlement tokens include stablecoins, bank deposit tokens and pilot wholesale central bank money, which let tokenized bonds, receivables and invoices settle on delivery versus payment terms.
• Public and permissioned ledgers such as Hedera, Redbelly Network, R3 Corda and XDC Network carry tokenized assets, which helps banks and traders link records with crypto payment apps and settlement systems.

Domestic exchanges face global brands and new owners

Competition is split between domestic exchanges, subsidiaries of global exchanges, specialist financial platforms and ledger vendors. Swyftx leads the domestic exchanges by customer base and is adding an advised brokerage arm through its planned purchase of Caleb and Brown. Independent Reserve now operates under IG Group majority ownership, while OKX Australia targets self-managed super fund trustees. Kraken operates locally through Bit Trade, which a federal court ordered in December 2024 to pay AUD 8 million over a margin extension product. CoinJar is registered with the national financial intelligence agency and expanded abroad in 2025. Zerocap piloted a tokenized bond under Project Acacia, and Coinstash raised AUD 5 million in July 2025. Rivals compete on spreads, custody safety, licenses and product range. Because licensing now applies to every platform, compliance scale has become a key advantage.

Which platforms lead Australian digital asset services?

Credence Research view on digital asset services

Credence Research's view is that Australian digital asset services will keep growing because a broad retail holder base is now joined by institutions, super funds and traders. Exchange trading remains the largest revenue pool, while payments and trade settlement add the fastest growth. The new licensing law raises the cost of entry but should give banks, funds and corporate customers more confidence. Platforms that combine licensed custody, deep liquidity and links to tokenized settlement should gain share fastest across the Australia blockchain in finance and trade base over the next decade.

How the national digital asset services estimate was built

The report uses 2025 as the base year on a calendar basis, and market values come from the Credence Research model. That model combines a published exchange investor index, population estimates, World Bank financial access data, central bank project releases, parliamentary and regulator publications, and company announcements. Segment splits and zone growth rates are Credence Research estimates, while zone shares follow the client-defined split. Sources used are official statistics, regulator publications, exchange filings and company releases, and Credence Research conducted no interviews or surveys of its own for this report.

Payments, institutions and partners carry growth to 2035

Revenue is expected to reach USD 5.16 billion by 2035, a 21.85% CAGR during 2026–2035, as licensed platforms win more investors and institutions move tokenized settlement into daily use. Growth should come from trade finance and payments, financial institutions and embedded partner channels. A smooth licensing transition from April 2027 would support custody and investment services, while weak token prices or more scams would slow retail trading. Platforms with licensed scale, strong custody and links to bank settlement are expected to gain the most as Australia blockchain in finance and trade revenue shifts toward wholesale use.

Note: The depth of individual sections depends on data availability for this market. Volume, capacity, trade and other unit-based metrics are included where applicable.