OpenReserve Receives Preliminary Approval for National Bank Charter

Blockchain fintech startup OpenReserve has received preliminary conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a full-service national bank in Salt Lake City, Utah. To finalize the charter, the company must raise at least $210 million in initial paid-in capital within 12 months and maintain a Tier 1 leverage ratio of at least 12% for the first three years of operation. The bank must commence operations within 18 months, with deadlines set for September 2027 and March 2028. OpenReserve plans to offer tokenized depo