February 13, 2026
By Anjali Kochhar
JPMorgan Chase & Co.’s global co-head of its blockchain and digital assets unit has stepped down, marking a notable leadership change as the bank continues expanding its blockchain-based financial infrastructure.
Naveen Mallela, who served as global co-head of Kinexys, JPMorgan’s blockchain division, confirmed his departure in a LinkedIn post on Wednesday. His exit concludes a tenure of more than a decade at the largest U.S. bank. Mallela was appointed co-head of Kinexys in 2024 and played a central role in shaping the unit’s global strategy and product expansion.
A JPMorgan spokesperson confirmed that Mallela has left the firm and said a successor will be named in due course. The bank did not provide additional details about the transition or his replacement. Mallela, who was based in Singapore, has not publicly disclosed his next move.
During his leadership, Kinexys accelerated the rollout of several high-profile blockchain initiatives aimed at institutional clients. Among the most significant was the expansion of JPM Coin, the bank’s blockchain-based deposit token designed to facilitate instant payments between corporate clients. The token enables 24/7 settlement and aims to reduce reliance on traditional multi-day clearing systems.
JPMorgan has been steadily broadening the reach of its blockchain offerings, integrating them into both private and public blockchain networks. The bank has also explored interoperability initiatives to connect traditional financial systems with emerging digital asset infrastructure. These efforts are part of a broader push to position JPMorgan at the forefront of tokenized finance and programmable payments.
Mallela’s departure comes during a period of ongoing evolution within the bank’s digital assets leadership team. Over the past year, the division has experienced other senior-level changes, though JPMorgan continues to actively recruit talent in blockchain and digital finance across key global markets including Singapore, London and the United States.
Kinexys has become a cornerstone of JPMorgan’s digital strategy, processing billions of dollars in transactions daily through its blockchain platforms. The unit focuses on tokenized deposits, cross-border payments, collateral management and other institutional use cases aimed at improving efficiency and transparency in financial markets.
Despite leadership turnover, JPMorgan’s commitment to blockchain development remains firm. The bank has repeatedly stated that distributed ledger technology will play a foundational role in the future of financial services, particularly in areas such as settlement, liquidity management and cross-border transactions.
Mallela’s exit marks the end of a significant chapter for JPMorgan’s blockchain ambitions, even as the bank continues to deepen its investment in digital asset infrastructure.
About the author
Anjali Kochhar covers cryptocurrency and blockchain stories in India as well as globally. Having been in the field of media and journalism for over four years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.
