On September 3rd, OpenReserve, an emerging bank, received preliminary approval for its national banking license from the Office of the Superintendent of the Currency (OCC) in the United States. The company completed a seed round financing of $25 million in April, led by a16z crypto, with participation from Jump Capital, Acrew, Coinbase Ventures, Clocktower, Quona, and AAF Management. OpenReserve, led by fintech executives such as Dee Choubey, is committed to combining traditional banking with blockchain infrastructure and digital asset services, and has submitted an insurance application to the Federal Deposit Insurance Corporation (FDIC).