OCC Gives OpenReserve Preliminary Conditional Approval for Bank Bid
Photo: TokenPost
The Office of the Comptroller of the Currency (OCC) gave OpenReserve preliminary conditional approval to pursue a national bank charter, advancing a proposed blockchain settlement bank while leaving it unable to open for now. The decision allows the charter process to continue, but does not authorize the proposed bank to begin operations. OpenReserve must satisfy preopening requirements and receive final approval before it can open. OpenReserve announced a $25 million seed round led by a16z crypto on Sept. 3, the day after the OCC decision.
Source: TokenPost
