OpenReserve has won preliminary conditional approval from the OCC for a full-service national bank charter, clearing the way for one of the first blockchain-native banks built around native onchain settlement.
Founded in 2025 by MoneyLion's Dee Choubey, OpenReserve raised a $25M seed round led by a16z crypto, with Jump Capital, Coinbase Ventures, Wintermute Ventures and others joining. The approval carries conditions: at least $210M in initial paid-in capital and a Tier 1 leverage ratio of no less than 12% for the first three years. Once live, the bank plans to offer deposits and lending, payments and treasury, tokenized deposits, digital asset custody, foreign correspondent banking, and stablecoin issuance through a planned dollar-backed subsidiary.
OpenReserve joins a widening line of crypto firms winning federal bank approvals, after Coinbase, Paxos, BitGo, Ripple, Circle and Revolut, a signal that the OCC is steadily opening the national charter to onchain-native institutions.
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