OpenReserve received preliminary conditional approval from the Office of the Comptroller of the Currency (OCC) to charter as a national bank in the United States, a crucial milestone that positions the company as one of the first institutions designed to integrate native onchain settlement within the regulated federal banking system.
The approval does not enable immediate operations: OpenReserve Bank, N.A. (in organization) must fulfill the prior requirements demanded by the regulator before receiving definitive authorization to operate.
The business model targets companies and financial institutions that need to move capital with greater continuity and control. The planned offering includes commercial and retail credit products, a treasury management platform, traditional and tokenized deposits, and stablecoin infrastructure designed for global capital markets and aligned with the requirements of the GENIUS Act.
OpenReserve seeks to reduce fragmentation between financial systems under supervisory, capital, and soundness standards equivalent to those of any national bank.
Dee Choubey, co-founder and CEO, emphasized that regulatory oversight is not a limitation but the foundation of the project. The company also announced seed funding from firms including Andreessen Horowitz, Jump Capital, Coinbase Ventures, and Wintermute Ventures, among others.
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