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      OpenReserve Secures $25 Million Seed Funding to Establish Blockchain-Native Bank

      OpenReserve, a fintech startup focused on creating a blockchain-integrated national bank, has successfully raised $25 million in a seed funding round led by a16z crypto, with participation from Coinbase Ventures and several other investors. The company has received preliminary conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a nationally chartered bank, marking a significant step in its development.

      Founded in 2025 by Diwakar Choubey and Richard Correia, OpenReserve is headquartered in New York City and plans to operate as a fully digital bank without physical branches. The bank aims to provide a range of services including deposits, lending, payments, and tokenized asset products, all utilizing blockchain technology for continuous on-chain capital market operations. A key offering will be ReserveUSD (rUSD), a compliant stablecoin to be issued through its subsidiary, ReserveUSD, LLC.

      The startup's regulatory journey is still ongoing, as it must navigate several pre-opening hurdles, including an application for FDIC deposit insurance. The current status of the bank is listed as 'in organization,' indicating that further approvals are necessary before it can officially launch. OpenReserve's timing coincides with evolving US regulations surrounding stablecoins, particularly the GENIUS Act, which aims to establish clearer federal guidelines for stablecoin issuers.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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