OpenReserve wins preliminary OCC approval for U.S. national bank charter

OpenReserve has received preliminary approval from the U.S. Office of the Comptroller of the Currency for a national bank charter, Bloomberg reported. The company is aiming to connect the traditional banking system with blockchain infrastructure and cryptocurrency services. OpenReserve is building a blockchain-based bank designed to operate 24 hours a day, including on weekends, and plans to tokenize bank deposits to enable real-time fund transfers and payments on-chain. The company has previously raised funding from Andreessen Horowitz, or a16z.