Andreessen Horowitz said on Sept. 3 that its crypto arm is leading a $25 million seed round in OpenReserve, a startup developing what it describes as a continuously operating bank. OpenReserve plans to use a programmable central ledger to support instant settlement enabled by tokenized deposits and stablecoins (crypto tokens designed to maintain stable value). The company aims to combine continuous money movement with regulated credit, arguing that stablecoins can move funds continuously but do not create credit, while traditional banks create credit but do not operate natively onchain. OpenReserve has not disclosed a launch date, its licensing status, the other round participants or how the funds will be allocated among technology, licensing and lending operations. The financing follows Augustus’ $180 million fundraising for a stablecoin clearing bank, while new bank licenses have only recently begun recovering after collapsing following the global financial crisis.