BSCN(@BSCNews):US regulators gave OpenReserve early approval to charter a national bank The OCC granted @OpenReserveBank preliminary conditional approval on September 2 for a full-service national bank in Salt Lake City. Before it can open, the company must raise at least $210 million and hold capital worth at least 12% of its assets for three years. It has raised $25 million so far, in a seed round led by @a16zcrypto. Final approval is still needed, and the stablecoin subsidiary it plans has not yet been filed with the regulator.

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2026.09.04 21:09

US regulators gave OpenReserve early approval to charter a national bank The OCC granted @OpenReserveBank preliminary conditional approval on September 2 for a full-service national bank in Salt Lake City. Before it can open, the company must raise at least $210 million and hold capital worth at least 12% of its assets for three years. It has raised $25 million so far, in a seed round led by @a16zcrypto. Final approval is still needed, and the stablecoin subsidiary it plans has not yet been filed with the regulator.