OpenReserve received preliminary conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) on September 2, 2026, to charter OpenReserve Bank, National Association, a full-service insured national bank headquartered in Salt Lake City, Utah. The approval supports the charter in principle but does not authorize operations or deposit-taking. OpenReserve must raise at least $210 million in initial paid-in capital, net of organizational and preopening expenses, within 12 months, secure Federal Deposit Insurance Corporation (FDIC) insurance, apply for Federal Reserve Bank stock and satisfy other OCC preopening requirements. It must maintain a Tier 1 leverage ratio of at least 12.0% during its first three years and open within 18 months, or the approval expires. The blockchain-native fintech plans to provide lending, treasury and cash management, tokenized deposits, foreign agency banking, banking-as-a-service and stablecoin infrastructure for institutional clients, while a planned wholly owned stablecoin subsidiary has not yet applied to the OCC.