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Fintech Business: Australia overtakes Japan on alt finance

The total market size of Australia’s alternative financial markets grew by more than 50 per cent in 2016, jumping from US$397.61 million the year prior to US$609.60 million, according to Cultivating Growth: The 2nd Asia Pacific Alternative Finance Industry Report. However, Australia’s alternative finance sector is dwarfed by China, which accounts for 99.2 per cent of total market volume in the Asia-Pacific region and 85 per cent of the total global market.

Read the full article [fintechbusiness.com]