Tokenization and digital assets are moving from experimentation to real-world implementation, from hype to measurable outcomes. In this episode of Making Sense, Hannah Elson, global head of Custody and EMEA head of Securities Services, sits down with Oli Harris, global head of Kinexys by J.P. Morgan, to discuss what’s changed over the last 18 months: clearer regulation, growing institutional adoption and the rise of credible “on-chain money” that enables true delivery-versus-payment settlement. They explore where clients are investing first, including 24/7 cross-border payments, liquidity and collateral efficiency and tokenized money market funds, as well as the hurdles still to solve, such as interoperability, privacy and governance and user experience.   If you’d like to learn more about Kinexys by J.P. Morgan, visit Kinexys: Enterprise Bank-Led Blockchain Solutions (https://www.jpmorgan.com/kinexys/index) .   This episode was recorded on September 1, 2026.    This podcast is intended for institutional clients only. The views expressed in this podcast may not necessarily reflect the views of J.P. Morgan Chase & Co, and its affiliates, together J.P. Morgan, and do not constitute research or recommendation advice or an offer or a solicitation to buy or sell any security or financial instrument. Referenced products and services in this podcast may not be suitable for you, and may not be available in all jurisdictions. J.P. Morgan may make markets and trade as principal in securities and other asset classes and financial products that may have been discussed. For additional disclaimers and regulatory disclosures, please visit www.jpmorgan.com/disclosures (http://www.jpmorgan.com/disclosures) . © 2026 JPMorgan Chase & Company. All rights reserved.

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