A16z-Backed OpenReserve Gets Approval for Full-Service National Bank

OpenReserve, a startup backed by a16z, has received approval to operate as a full-service national bank. Unlike many crypto firms that opt for trust-bank charters, OpenReserve secured a full national charter. This strategic move enables the company to offer conventional lending and insured deposits in addition to its stablecoin issuance. The approval marks a significant shift in how the firm integrates traditional banking services with digital asset operations within the current regulatory framework.