On-chain bank OpenReserve raises $25M seed led by a16z crypto

TREE NEWS update: OpenReserve, an on-chain bank, announced $25 million in seed funding led by a16z crypto, with participation from Jump Capital, Acrew, Coinbase Ventures, Clocktower, Quona, and AAF Management. The bank aims to be a “never-closed” institution with a blockchain-like programmable core ledger supporting stablecoin and tokenized deposits for continuous settlement, instant transfers, and atomic transactions, while providing on-chain credit via a regulated bank balance sheet.