OpenReserve, a startup backed by venture capital firm a16z, has received approval to operate as a full-service national bank in the United States.
The approval sets OpenReserve apart from most crypto-related firms, which have typically pursued trust-bank charters rather than a full national bank charter. A full-service national bank charter clears a path toward insured deposits and conventional lending, in addition to stablecoin issuance.
This route differs structurally from the trust-bank model, which limits the scope of activities a firm can conduct compared with a full national charter.
For more details, see the original report from Decrypt.
