[Money20/20 Europe 2025] J.P. Morgan on the future of digital money

At Money20/20 Europe 2025, Naveen Mallela, Global Co‑Head of Kinexys at J.P. Morgan, explains how digital money and universal ledgers can overhaul cross‑border payments, settlements, and compliance.

In this video interview, Naveen sets the scene with a clear thesis: ‘Digital assets are reshaping the future of payments and remittances’. Speaking for one of the world’s largest financial institutions, he details why heavyweight banks are doubling down on new rails built for speed, cost‑efficiency, 24/7 accessibility, and programmability.

Why Kinexys?

‘Kinexys exists to transform the movement of money, data, and assets — and to unify them in powerful new ways’. Viewers are walked through the solution suite Kinexys is building to give cross‑border transfers the same always‑on experience domestic payments already enjoy. The goal: one shared programmable ledger that replaces today’s fragmented architecture of multiple internal ledgers and SWIFT messaging: ‘Bringing all of this onto a single shared ledger will unlock net‑new capabilities—atomic debit‑credits, instant settlement, and, when you overlay assets, unprecedented functionality for markets’.

Who’s adopting first?
When asked who is adopting digital money solutions first, Naveen pointed to fintechs and institutions whose core business depends on the fast and seamless movement of money. ‘Some of the most eager adopters are fintechs—companies that need high-speed, 24/7 money movement. These are the players driving adoption because their business is money’, he explained. Naveen also noted the rapid progress in Asia, where the complexity of managing multiple currencies and fragmented markets creates strong incentives for innovation.

Stablecoins, CBDCs, tokenised deposits—complement or competition?

Stablecoins, CBDCs, and other digital money initiatives will coexist and complement one another. ‘If you look at money today, we already have different forms—central bank money, commercial bank money, and e-money—all working together’, Naveen said. ‘Going forward, tokenized deposits, CBDCs, and stablecoins will follow a similar path, each serving distinct use cases depending on the needs of users and institutions’.

Watch the full interview to learn:

• The pain points Kinexys targets in cross‑border flows
• How a unified ledger delivers real‑time, programmable money
• Which regions and sectors are moving fastest
• Why every institution needs a digital‑money roadmap—now

 

 

 

 

 

 

 

 

 

About Naveen Mallela

Kinexys by J.P. Morgan is the firm’s industry leading blockchain business unit, focused on groundbreaking innovation to build the next generation of financial infrastructure utilising blockchain technology. The division comprises of four key areas transforming how money, assets, and information move around the world: Kinexys Digital Assets, an asset tokenization platform; Kinexys Digital Payments, a deposit ledger and payment rail; Kinexys Kiink, the world’s first bank-led peer-to-peer data sharing network; and Kinexys Labs, an industry-leading research team.