OCC Grants OpenReserve Preliminary Conditional Approval to Charter a National Bank

Decision advances a full-service national bank designed to combine traditional banking with native onchain settlement, under the same supervision, capital, and safety-and-soundness standards that govern every national bank

SALT LAKE CITY--(BUSINESS WIRE)-- OpenReserve Holdings, Inc. ("OpenReserve") today announced that the Office of the Comptroller of the Currency (OCC) has granted preliminary conditional approval of its application to charter OpenReserve Bank, N.A. (in organization), a full-service national bank.

OpenReserve Bank (in organization) is being built to serve businesses and financial institutions that need to move and manage capital with greater continuity, visibility, and control. The bank will be designed as a full-service national bank that brings native onchain settlement into the perimeter of federally supervised banking. Its intended offerings include commercial and retail lending products, a treasury management platform, traditional and tokenized deposit products, and stablecoin infrastructure that is purpose‑built for global capital markets and designed to comply with the GENIUS Act. The institution is being built to reduce fragmentation across financial systems while maintaining clear accountability, strong controls, and transparent boundaries between banking and affiliated activities.

Before commencing banking operations, OpenReserve Bank (in organization) must satisfy the OCC's preopening requirements and receive the OCC's final approval to open.

"Preliminary conditional approval to charter a de novo national bank is a privilege our team does not take lightly. It is a significant milestone and the beginning of the most demanding phase of the work," said Dee Choubey, Co-founder and CEO of OpenReserve Bank (in organization). "We chose the national bank path deliberately. Supervision, safety and soundness, compliance, and customer confidence are not constraints on what we are building; they are the foundation of it. We are grateful for the rigor of the OCC's review and will approach every preopening requirement with the same discipline."

"American banking has always advanced by bringing new technology inside the regulated system rather than around it, from the founding of the national banking system, to electronic clearing, to the card networks. Programmable, onchain settlement is the next chapter, and we believe it should be written by a chartered national bank under federal supervision," Choubey added. "OpenReserve Bank (in organization) is our contribution to that tradition: durable financial infrastructure, built in the United States, to standards the world can rely on."

During the preopening period, OpenReserve Bank (in organization) expects to continue building out its executive leadership, governance, risk management, compliance, capital, technology, and operating capabilities. Any future product or service will remain subject to the OCC's requirements, final product design, customer eligibility, and operational readiness.

"Our prospective customers run global businesses that operate continuously, and there is real capital to unlock when their bank works the same way," said Richard Correia, OpenReserve Bank (in organization) Co-founder and President. "That is what we are building: one unified onchain ledger inside a national bank, where payments settle instantly in any market, the assets a company already owns can be financed against that same ledger, and every asset becomes working capital rather than a line item. Our Forward Deployed Solutions team works alongside customers, integrating OpenReserve Bank (in organization) where their business actually runs. That is the first continuous bank."

OpenReserve Bank (in organization) also announced seed funding from Andreessen Horowitz, Jump Capital, Acrew, Coinbase Ventures, Wintermute Ventures, Clocktower, Quona, AAF Management, and Zero Knowledge Ventures. OpenReserve (in organization) will provide additional information as it reaches material regulatory and operating milestones.

About OpenReserve

OpenReserve Bank (in organization) is an OCC-chartered national bank in organization, building a full-service institution that combines traditional banking with native on-chain settlement. OpenReserve Bank, N.A. (in organization) received preliminary conditional approval from the OCC on September 2, 2026, with final approval pending. OpenReserve Bank (in organization) is being built to serve institutional customers across treasury management, stablecoin issuance, and tokenized deposits, purpose‑built for global capital markets and designed to comply with the GENIUS Act. For more information, visit www.openreserve.ai.

Important Status Statement

The OCC has granted preliminary conditional approval only. Final approval and authorization for OpenReserve Bank, N.A. (in organization) to open for business will not be granted until the OCC's preopening requirements are satisfied. Preliminary conditional approval is not an endorsement by the OCC of OpenReserve Bank's (in organization) technology, products, or business model. No product or service described as planned or future state is currently available through the proposed bank unless expressly stated otherwise.

Forward-Looking Statements

This release contains forward-looking statements regarding OpenReserve Bank's (in organization) plans, proposed activities, regulatory process, products, services, and future operations. These statements are based on current expectations and are subject to risks and uncertainties. Actual outcomes may differ materially due to regulatory requirements, market conditions, execution risks, and other factors. OpenReserve (in organization) undertakes no obligation to update forward-looking statements except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260903868515/en/

Media Contact
Monty Hagler
Founder and CEO, RLF Communications
for VantageRoad Partners
Email: [email protected]
Phone: 336.314.3149

Source: OpenReserve Holdings, Inc.

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