REGULATION | OpenReserve Gets Preliminary OCC Approval for a U.S. Blockchain Bank - BitKE

OpenReserve has secured preliminary approval from the U.S. Office of the Comptroller of the Currency (OCC) to form a blockchain-focused national bank. This step does not equate to a full charter, but it signals that the firm's application has cleared an initial regulatory vetting phase.

The relevance lies in the precedent. A federally chartered blockchain bank would operate under the same supervisory framework as traditional lenders while using distributed ledger technology for core functions. That could offer clearer rules for digital asset custody, payments, and settlement—areas that often sit in regulatory gray zones. For the broader market, it suggests established banking regulators are willing to engage with crypto-native business models, potentially reducing the need for offshore structures.

The next phase involves detailed review of the bank's proposed operations, capitalization, and risk controls. Conditions attached to the preliminary approval, and whether the OCC imposes novel requirements around custody or anti-money laundering, will offer a template for other applicants. Final approval is not guaranteed, but the outcome will help define how blockchain banks integrate into the U.S. financial system.