Bank Leader Says Tokenizing Assets Won’t Make Them Liquid
JPMorgan’s new blockchain head, Oliver Harris, cautions that simply putting assets on the blockchain is not enough to make markets liquid.
Background
Harris transitioned from Goldman Sachs and a small crypto startup to lead JPMorgan’s new unit, Kinexys, which focuses on digital settlement and tokenization.Key Message
“Technology must be paired with better systems.” Harris argues that the true challenge lies in transforming underlying market infrastructure rather than merely converting assets into tokens.
- Vision for a Unified Settlement Layer
- Merge money, assets, and data on a single global platform.
Replace legacy back‑ends with blockchain to enable continuous, smoother trading.
- Career Reflections
Harris describes his journey as a “third hell loop,” having attempted tokenization in three different settings. He believes this time will succeed because: - The technology has matured.
Regulatory frameworks are clearer.
Industry Impact
Large banks, including JPMorgan, are investing in infrastructure that could reshape global finance by accelerating settlements and integrating tokenized assets.
