Season 2 · Episode 10
OpenReserve OCC Charter: Full-Service Crypto Bank: $210M Bar
Summary
Same day as Revolut, the OCC gave OpenReserve Bank, N.A. preliminary conditional approval for a full-service national bank in Salt Lake City — built for tokenized deposits, BaaS, and a planned stablecoin subsidiary under the GENIUS Act.
In this OnlyFintechs episode we break down Corporate Decision #1389 (Sept 2, 2026): $210M minimum capital, 12% Tier 1 leverage for three years, on-balance-sheet digital assets limited to fees/gas, and why a16z and Coinbase Ventures are backing a “continuous bank.”
What you’ll learn:
- How OpenReserve’s crypto-native full-service plan differs from Bastion/Agora/Catena’s uninsured trust stack and from Revolut’s same-day product-gated retail charter
- What “preliminary” still requires (FDIC + Fed + final OCC)
- Why GENIUS Act conformity is an enforceable condition
Keywords: OpenReserve, OCC, CD1389, Salt Lake City, GENIUS Act, stablecoin, tokenized deposits, Andreessen Horowitz, Coinbase Ventures, continuous bank
#OpenReserve #OCC #CryptoBank #Stablecoin #GENIUSAct #Tokenization #Fintech #PodcastDrop
Chapters
- 0:00Intro: money that still keeps bankers' hours
- 2:14Why banking is slow: COBOL, batches, trapped capital
- 6:40Why big banks can't just replace the core
- 7:46OpenReserve: founders and a16z seed round
- 10:47Why a bank, not just a stablecoin
- 12:40The OCC conditional approval and its limits
- 16:34Compared with Revolut's approval
- 20:46What it means
