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Report: JPMorgan forays into cryptocurrency biz

JPMorgan Chase & Co. has appointed Oliver Harris to a new role to explore the potential of cryptocurrencies across its corporate and investment bank, London's Financial News reported, citing "people familiar with the matter."

Harris has been overseeing the bank's In-Residence fintech program since 2015. In his new role, Harris will explore the possibility of crypto custody services and the application of blockchain to the bank's payments business, according to the report.

The London-based executive will also lead JPMorgan's Quorum project, an internal blockchain platform developed by the bank. The Financial Times earlier reported that JPMorgan may spin off Quorum.