Bloomberg reported that OpenReserve, which aims to be a 24-hour blockchain-based bank, has received preliminary approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national bank charter. OpenReserve aims to connect traditional banking systems with blockchain infrastructure and cryptocurrency services. OpenReserve is building a bank that operates 24 hours a day, including weekends, by utilizing cryptocurrencies and related technologies. In addition, it plans to tokenize bank deposits to enable real-time fund movement and payments on the blockchain. OpenReserve has previously secured investment from Andreessen Horowitz (a16z).
