OpenReserve secures a16z backing and preliminary approval for a U.S. national bank charter

Blockchain banking startup OpenReserve has received investment from Andreessen Horowitz, or a16z, and has also won preliminary approval for a U.S. national bank charter, according to a Techub report citing Cointelegraph. The company was founded by a team of former MoneyLion executives and is building what it describes as a blockchain-based bank designed to operate around the clock. The preliminary charter approval means OpenReserve can move toward offering compliant banking services on a nationwide basis in the United States. a16z, named as an investor in the project, is expected to support both regulatory progress and technology development. The update centers on two points: new funding from a major crypto-focused venture investor and an early regulatory green light tied to a national banking license. Together, those developments place OpenReserve in a position to keep advancing its blockchain banking model within a regulated U.S. framework.