OpenReserve Receives Preliminary OCC Approval for National Bank Charter

OpenReserve has secured preliminary conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national bank, advancing plans for a blockchain-native financial institution focused on tokenized deposits and digital asset custody.

The development was reported by @CoinMarketCap, which said the company, backed by Andreessen Horowitz, intends to offer the services through its proposed national banking platform.

OpenReserve’s National Bank Charter and Digital Asset Strategy

OpenReserve Bank, National Association is being organized as a full-service national bank designed to integrate blockchain infrastructure with traditional banking services. The company’s application to the OCC describes a business focused on regulated banking services for digital-asset-native clients, including tokenized financial products and custody services.

The OCC’s preliminary conditional approval does not mean OpenReserve can immediately begin banking operations. The regulator’s chartering process requires applicants to satisfy pre-opening conditions before final approval, while separate regulatory approvals may also be required. OpenReserve itself says its final OCC approval remains subject to pre-opening requirements and that FDIC approval is required before banking operations can begin.

The proposed institution comes as U.S. banking regulators have continued establishing clearer parameters for banks engaging with digital assets. The OCC has previously confirmed that national banks and federal savings associations may conduct certain crypto-asset custody and execution activities, provided those activities are conducted safely and in compliance with applicable law.

Tokenized Deposits Move Closer to Regulated Banking

OpenReserve’s model places tokenized deposits and digital asset custody within a nationally chartered banking structure, potentially connecting onchain financial infrastructure with the established U.S. banking system.

The company has also positioned its platform around tokenized financial instruments and continuous, blockchain-based capital markets. Its proposed ReserveUSD stablecoin is designed around the regulatory framework established by the GENIUS Act, according to OpenReserve.

The next step is regulatory execution: OpenReserve must satisfy the OCC’s remaining pre-opening requirements and obtain the approvals necessary before it can commence banking operations.

Writer: Victoria Hale
Technology & Blockchain Writer

Victoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.

She prioritises clarity and accuracy when explaining technical developments to a general audience.