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<p>The Office of the Comptroller of the Currency on September 2 granted <a href="https://occ.gov/topics/charters-and-licensing/interpretations-and-decisions/2026/cd1389.pdf" rel="noopener noreferrer nofollow">preliminary conditional approval</a> for OpenReserve Bank, National Association, to form a full-service national bank headquartered in Salt Lake City, Utah. The decision moves OpenReserve towards a federally chartered banking model spanning conventional banking and digital-asset services, but it does not yet permit the bank to open.</p>
<h2 id="openreserve-s-proposed-national-bank-services">OpenReserve’s proposed national bank services</h2>
<p>OpenReserve’s proposed offering includes deposits, lending, payments and treasury services, according to the OCC decision. It also plans to offer digital-asset services and nonfiduciary digital-asset custody.</p>
<p>The proposed structure includes a stablecoin subsidiary. The OCC document identifies those services as part of the bank’s business plan, rather than confirming that they are already available to customers.</p>
<h2 id="capital-and-federal-approvals-still-required-before-opening">Capital and federal approvals still required before opening</h2>
<p>The OCC’s <a href="https://cryptodaily.co.uk/2026/08/occ-world-liberty-trust-approval-status" rel="noopener noreferrer nofollow">preliminary decision</a> is expressly conditional. Before it can begin operations, OpenReserve must have at least $210 million in initial paid-in capital, according to the OCC. The agency said OpenReserve must also obtain FDIC deposit insurance, Federal Reserve stock and final OCC authorisation before opening. Several federal approvals therefore remain outstanding.</p>
<h2 id="charter-application-moved-from-april-filing-to-september-approval">Charter application moved from April filing to September approval</h2>
<p>OpenReserve filed its charter application on April 13, 2026. The OCC’s <a href="https://apps.occ.gov/CAS/home/details?FilingID=AxmrPnPAkZva&amp;FilingSubtypeID=1090&amp;FilingTypeID=2" rel="noopener noreferrer nofollow">application record</a> lists the filing as approved on September 2, the same date as the agency’s conditional-approval decision.</p>
<p>Final OCC authorisation, alongside the FDIC and Federal Reserve requirements and the $210 million capital threshold, remains necessary before the proposed Salt Lake City bank can open.</p>
<p>Disclaimer: 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.</p>

OpenReserve Wins Preliminary OCC Approval for National Crypto Bank Charter

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