OpenReserve Wins Conditional U.S. Bank Approval, Raises $25 Million

OpenReserve, led by MoneyLion co-founder Dee Choubey, aims to combine conventional banking and credit with blockchain infrastructure and digital-asset services in a federally supervised institution. Its proposed “continuous bank” would support round-the-clock settlement rather than traditional banking hours, offering regulated infrastructure for stablecoins, tokenized assets and onchain lending. The project reflects growing U.S. efforts to bring blockchain-based finance inside the regulated banking system.

OpenReserve said on Sept. 3, 2026, that the Office of the Comptroller of the Currency had granted preliminary conditional approval in August for its application to establish OpenReserve Bank, N.A. The application was filed on April 13. The company also announced a $25 million seed round led by a16z crypto. The bank cannot begin operating until it satisfies the OCC’s pre-opening conditions and secures separate approvals, including deposit insurance from the Federal Deposit Insurance Corporation.