OCC: OpenReserve Bank and Revolut Stablecoin Routes Cleared

OCC issued two conditional national bank charter letters on 2 September covering opposite models for dollar stablecoins. OpenReserve Bank in Salt Lake City received approval for tokenized capabilities across deposits and a wholly owned subsidiary to issue stablecoins after filing on 13 April. Revolut Bank US gained clearance to distribute Revolut-branded stablecoins via a third party without acting as issuer or managing reserves. Both approvals appear on occ.gov as Corporate Decisions 1389 and 1390 and require full pre-opening conditions before either bank can launch.