OCC Preliminary Approval for OpenReserve National Bank Charter
OCC granted preliminary conditional approval on September 2, 2026, for OpenReserve Bank, National Association, in Salt Lake City with digital-asset and stablecoin plans.
The Office of the Comptroller of the Currency granted preliminary conditional approval on September 2, 2026, for OpenReserve Bank, National Association, to form a national bank headquartered in Salt Lake City, Utah.
The proposed bank would offer deposits, lending, payments, treasury services, digital-asset services, and nonfiduciary digital-asset custody, along with a stablecoin subsidiary.
Conditions and unknowns
OpenReserve filed the charter application on April 13, 2026. The approval requires at least $210 million in initial paid-in capital, FDIC deposit insurance, Federal Reserve stock, and final OCC authorization before the bank can open or operate.
The exact timeline for the remaining federal approvals is unknown, and details on the stablecoin subsidiary and its launch timing are unspecified.