Wee Kee is responsible for architecting business capabilities for digital payments, and developing strategies to address current needs and capture future opportunities. He works closely with the product team to develop product vision and strategies, and with the technology team on aligning technical solutions with business needs. Prior to joining J.P. Morgan in 2022, Wee Kee was the Specialist Leader for Distributed Ledger Technology at the Monetary Authority of Singapore, where he led Project Ubin, was also Advisor at the BIS Innovation Hub, where he led Project Dunbar.

Kinexys by J.P. Morgan is the firm’s blockchain business unit focused on building the next generation of financial infrastructure utilising blockchain technology. Kinexys Digital Payments offers a blockchain-based deposit product that allows clients to make domestic and cross-border payments between Kinexys Digital Payments accounts on a 24/7, near real-time basis.

With the growing interest on stablecoins, deposit tokens and CBDCs, Kinexys by J.P. Morgan and MIT Digital Currency Initiative collaborated on the research and development of a prototype for payment tokens on EVM-based blockchains. This presentation will discuss key findings from the research, including the additional capabilities required in payment tokens to meet compliance and regulatory requirements, the gaps in existing token standards and the proposal of two new sets of capabilities to address these gaps. The presentation will also highlight challenges in current approach towards token standards, and why narrow composable standards would help drive convergence in the space.