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OpenReserve is a financial institution built on blockchain infrastructure, seeking a US national bank charter, with the goal of creating a 'continuous bank' that never closes. It combines the credit creation capabilities of traditional banks with the 24/7 real-time settlement of stablecoins, leveraging a programmable core ledger to enable atomic, irreversible, and instant transactions. Its services span tokenized deposits, digital asset custody, compliant stablecoin issuance (ReserveUSD), and continuous capital market financing and yield products for enterprises and institutions.
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About OpenReserve
OpenReserve is a blockchain-native digital bank that operates around the clock, 24/7, unlike traditional banks. Its core business includes treasury management for corporate cash scheduling, issuing US dollar stablecoins directly from the banking system, and offering tokenized deposits that turn conventional bank deposits into programmable on-chain assets. All services feature built-in on-chain settlement.
The market pain point it addresses is that traditional finance is stuck in the past: banks have limited operating hours, money moves slowly via ACH and wire transfers, and most financial services are unavailable on weekends. OpenReserve's narrative is to build a bank that never closes, combining the resilience and accessibility of blockchain with the regulatory framework of a national bank.
In the past six months, OpenReserve applied to the OCC in April 2026 and received preliminary approval for a national bank charter in early September 2026, in less than five months. This reflects a more welcoming regulatory stance toward digital asset firms under the new OCC leadership. The bank also aims to align with the upcoming GENIUS Act framework for stablecoin issuance. While this is a significant milestone, the final permanent charter is still pending OCC approval.
OpenReserve, a blockchain-native digital bank led by MoneyLion co-founder Dee Choubey, made major strides in H1 2026. In April, it closed a $25M seed round led by a16z crypto, with participation from Jump Capital, Coinbase Ventures, and others. On September 3, 2026, the OCC granted preliminary conditional approval for a de novo national bank charter, a key milestone. The bank also filed for FDIC deposit insurance and plans to issue a GENIUS Act-compliant stablecoin, rUSD, via its subsidiary ReserveUSD LLC.
Future roadmap: OpenReserve aims to operate a 24/7 "bank that never closes," combining regulated credit with continuous onchain settlement. It will offer tokenized deposits, instant settlement, stablecoin issuance/custody, and lending. The parent company, OpenReserve Holdings, will seek bank holding company status. The bank will adopt an OCC-approved Strategic Plan for CRA compliance, serving customers nationwide via digital channels from its Salt Lake City main office.
Co-founders: Diwakar Choubey (CEO, former co-founder and CEO of MoneyLion) and Richard Correia (co-founder, background not publicly detailed).
No other current core executives were identified from the available sources.
OpenReserve recently added two core executives. Dee Choubey joined in May 2026 as Founder and CEO, with a strong fintech background as ex-MoneyLion founder. Jame Sloan joined in the same period as Chief Risk Officer. The company has received conditional OCC approval for a national bank charter and is advancing blockchain-based banking and stablecoin services.