OpenReserve Receives Preliminary OCC Approval for Blockchain-Based National Bank

OpenReserve, backed by investors including Andreessen Horowitz, Jump Capital, Coinbase Ventures, and Wintermute Ventures, has secured preliminary approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national bank. The Salt Lake City-based firm intends to provide banking services integrated with blockchain infrastructure, such as on-chain settlement.