JPMorgan has created a new position as head of strategy in cryptocurrencies, Oliver Harris, based in London, will assume the new position, informing the head of development of blockchain, Umar Farooq, Harrys will also lead the internal blockchain project of JPMorgan, Quorum, which started the tests by JP Morgan Chase and the National Bank of Canada last month.
For the past two years, Harris has been leading JPMorgan’s In Residence program, which identifies and partners with Fintech startups that the bank sees as promising.
In general, the investment banking giant has been skeptical about cryptocurrencies. JPMorgan prohibited its customers from making cryptographic purchases with credit cards in February, in addition to including cryptocoins in the “Risk Factor” section of its 2017 annual report to the US Securities and Exchange Commission. UU
But despite what he says, it is clear that this is more than always when we talk about banking, its first rule, that one hand does not know what the other does.