OpenReserve is one of the strongest emerging infrastructure projects uncovered during token reconnaissance because it combines venture financing with actual regulatory progress rather than relying primarily on a token narrative.
The company was founded in 2025 by Diwakar Choubey and Richard Correia and is building what it describes as a blockchain-native full-service national bank.
The Office of the Comptroller of the Currency formally recorded approval of OpenReserve’s charter application on September 2, 2026, subject to conditions. OCC records identify the proposed institution as OpenReserve Bank, National Association, based in Salt Lake City.
The business is designed around conventional deposits and lending combined with treasury management, tokenized deposits, digital-asset custody and native blockchain settlement.
OpenReserve also intends to establish a wholly owned subsidiary that would issue, custody and redeem reserve-backed dollar stablecoins. That subsidiary remains subject to its own regulatory process.
The project previously raised $25 million in seed financing led by a16z crypto. Backers include Coinbase Ventures, Jump Capital, Acrew, Wintermute Ventures, Clocktower, Quona and others.
Regulatory approval is preliminary rather than final. OpenReserve must satisfy significant capitalization requirements, including at least $210 million in initial paid-in capital, while maintaining a Tier 1 leverage ratio of at least 12% during its first three operating years.
There is no verified public token or TGE that should be treated as an investment opportunity at this stage. Token claims appearing elsewhere should be treated cautiously unless OpenReserve itself announces them.
WHY TOKEN RECON IS WATCHING
OpenReserve matters because most crypto banking efforts have historically focused on custody or limited-purpose trust structures.
A full national bank built around continuous onchain settlement would be a substantially different model.
The primary risk is execution. Preliminary OCC approval is not permission to begin operating immediately, capitalization requirements are substantial, FDIC and additional regulatory processes remain relevant, and building bank-grade infrastructure is materially harder than launching a fintech application.
Still, the combination of regulatory progress, identifiable founders, substantial institutional backing and a clearly defined operating model makes OpenReserve one of the more credible emerging infrastructure projects currently on the radar.
Primary sources: OCC charter decision records and application database.
