stable coins
By James Thorp
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What the OCC Preliminary Approval Actually Means. Preliminary approval isn't a green light to open for business.
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Onchain Banking and the Broader Shift. The financial sector has been watching blockchain settlement technology for a while now.
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What OpenReserve Has to Do Next. Full operational status is still a ways off. OpenReserve needs to demonstrate it can meet federal…
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OpenReserve Holdings got the nod. The Office of the Comptroller of the Currency handed the company preliminary approval for a national bank charter built around onchain…
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The approval didn't come out of nowhere. OpenReserve closed a $25 million seed round first, with Andreessen Horowitz among the backers.
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Preliminary approval isn't a green light to open for business. It's closer to a conditional yes — the OCC is saying it's willing to charter OpenReserve as a national bank, but…
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What the approval does do is lock in OpenReserve's position. It's hard to get even this far.
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The onchain settlement angle is what makes OpenReserve different from a standard digital bank application.
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OpenReserve's bet is that demand is there. Digital asset transactions need banking rails that actually match the speed and structure of blockchain.
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More context: Revolut Secures Conditional US Bank Charter After 11 Years of Pursuit
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That's probably why Andreessen Horowitz wrote the check. The firm has backed enough crypto infrastructure companies to know where the bottlenecks are.
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And the OCC's willingness to engage with OpenReserve's application fits a broader pattern. Regulators have been more open to crypto-native banking applications than they were a…
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Full operational status is still a ways off. OpenReserve needs to demonstrate it can meet federal banking standards — capital requirements, compliance frameworks, risk…
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The company hasn't said when it expects to get there. No timeline, no specific milestones made public.
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Related: Sanders-Casar Ban Artificial Superintelligence Act Proposes 20-Year Prison Terms
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