OpenReserve Secures $25M in Seed Funding Led by a16z Crypto and Receives Preliminary Approval for a U.S. National Bank Charter

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OpenReserve has received preliminary approval from the OCC for a U.S. national bank charter, with a focus on enhancing liquidity and crypto markets. The company raised $25 million in seed funding in April, led by a16z Crypto, with participation from Jump Capital, Coinbase Ventures, and others. OpenReserve is developing the integration of blockchain infrastructure with traditional banking and has also submitted an application to the FDIC for deposit insurance. CFT compliance remains central to its regulatory strategy.

ChainThink reports that on September 3, according to Bloomberg, OpenReserve has received preliminary approval for a national bank charter from the U.S. Office of the Comptroller of the Currency (OCC).

The company completed a $25 million seed round in April, led by a16z crypto, with participation from Jump Capital, Acrew, Coinbase Ventures, Clocktower, Quona, and Middle Eastern venture fund AAF Management.

OpenReserve is led by fintech executives, including MoneyLion co-founder Dee Choubey, and is dedicated to integrating traditional banking with blockchain infrastructure and digital asset services to enable 24/7 operations.

The company has also submitted a deposit insurance application to the Federal Deposit Insurance Corporation (FDIC).

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