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The OCC Just Waved Through a Blockchain-Native Bank — and Handed Revolut a US Stablecoin Licence
The OCC granted preliminary national bank charter approval to OpenReserve, an a16z-backed firm described as a blockchain-native bank built on on-chain settlement rails, and separately issued Revolut conditional approval covering US stablecoin distribution, per The Block and Cointelegraph. Both are permissions to proceed rather than operating charters. The approvals land days after Revolut completed its MiCA-driven USDT removal in Europe and launched its own euro stablecoin.
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5 sources
- Andreessen Horowitz-backed OpenReserve secures preliminary OCC approval for national bank charter · theblock.co · T1
- US regulators gave OpenReserve early approval to charter a national bank · bsc.news · T2
- Revolut Secures Conditional OCC Charter for US Stablecoin Distribution · forkast.news · T2
- U.S. Office of the Comptroller of the Currency grants preliminary approval for Open Reserve blockchain bank charter · youtube.com · T3
- Revolut, OpenReserve get preliminary US bank approval with crypto plans · cointelegraph.com · T1