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Naveen Mallela
Global Co-Head of Kinexys at J.P. Morgan, leading the bank's efforts on tokenization, tokenized deposits (JPMD), and shared-ledger payment infrastructure; operates at the intersection of traditional finance and blockchain.
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Nov 13, 2025
• 41min
Tokenized Deposits vs Stablecoins: Inside JPMorgan’s Kinexys w/ Naveen Mallela
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Naveen Mallela, Global Co-Head of Kinexys at J.P. Morgan, dives into the transformative vision for tokenized deposits like JPMD and their differences from stablecoins. He explains the importance of interoperability in financial systems and how shared ledgers can redefine banking competition. Naveen highlights cross-border payments as the next frontier for tokenization. He also discusses liquidity solutions and the coexistence of different monetary forms, including stablecoins and CBDCs, laying out a compelling narrative for the future of finance.
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