OpenReserve Wins Preliminary OCC Approval for a US Blockchain Bank
The Utah-based firm, backed by Andreessen Horowitz and Coinbase Ventures, cleared an early regulatory step toward operating a national bank built on blockchain infrastructure.
AfroEuropa Newsroom
AfroEuropa desk
OpenReserve, a blockchain financial institution based in Salt Lake City, Utah, has secured preliminary approval from the U.S. Office of the Comptroller of the Currency (OCC) to set up a national bank, according to BitKE.
The company is backed by investors including Andreessen Horowitz, Jump Capital, Coinbase Ventures, and Wintermute Ventures, among others. It plans to develop banking services around blockchain infrastructure, spanning on-chain settlement, treasury management, digital asset services, foreign correspondent banking, stablecoins, and tokenized deposits, delivered through a full-service banking-as-a-service platform.
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