The bank confirmed his exit after a decade of leadership, citing continued expansion of JPM Coin and Kinexys platform in institutional payments.
JPMorgan announced the resignation of Naveen Mallela, global co-head of its blockchain division, after more than ten years at the bank. A spokesperson stated that a successor will be named soon. Mallela's departure comes as the Kinexys blockchain-based payments platform, which launched JPM Coin for institutional use in November, processes $5 billion daily. The bank remains committed to strengthening its blockchain-driven payment operations.