OpenReserve gets preliminary OCC approval for national bank

OpenReserve, the a16z-backed blockchain bank, received preliminary approval from the OCC to charter a full-service national bank. The proposed bank covers deposits, lending, tokenized deposits, digital asset custody and a stablecoin subsidiary. The preliminary/provisional charter is an initial step toward full operation under OCC supervision. OpenReserve joins a growing wave of crypto-native institutions securing federal banking charters this cycle.