a16z has backed OpenReserve, a blockchain-powered 24/7 bank. OpenReserve has received preliminary approval for a U.S. national bank charter. The company was founded by former MoneyLion execut
OpenReserve, a blockchain-powered banking startup backed by Andreessen Horowitz (a16z), has received preliminary approval for a U.S. national bank charter, according to Bloomberg.
The company was founded by former MoneyLion executives and aims to build a 24/7 banking platform powered by blockchain technology. A national charter would allow OpenReserve to operate under a federal banking framework, subject to meeting the remaining regulatory requirements before final approval.
The milestone marks a significant step toward launching a blockchain-native banking institution in the United States.
The backing from a16z, one of the most active venture capital firms in the crypto sector, underscores continued investor confidence in blockchain-based financial infrastructure.
OpenReserve’s vision focuses on combining traditional banking services with always-on blockchain settlement, potentially enabling faster payments and more efficient financial operations compared with conventional banking systems.
The preliminary charter approval could help position the company as a bridge between traditional finance and digital assets.
LATEST: a16z backs OpenReserve, a blockchain-powered 24/7 bank from former MoneyLion execs that just won preliminary approval for a national charter, per Bloomberg. pic.twitter.com/3Cea3YsIaj
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The latest OpenReserve national charter development highlights growing interest in regulated blockchain-based banking models.
As financial institutions increasingly explore tokenization, stablecoins, and real-time settlement, new entrants like OpenReserve are seeking to modernize banking infrastructure while operating within established regulatory frameworks. The industry’s next focus will be whether the company secures final approval and launches its services.
