Jump Capital
Jump Capital is a thesis-driven venture capital firm specializing in companies that are transforming the future of FinTech, IT & Data Infrastructure, Media, B2B & SaaS.
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OpenReserve receives preliminary approval for full-service national bank, must raise $210 million and maintain 12% Tier 1 leverage ratio
Odaily News: Blockchain-native fintech startup OpenReserve received preliminary conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) on September 2 to establish a full-service national bank in Salt Lake City, Utah. The approval process took less than five months, with OpenReserve submitting its application on April 13.OpenReserve must raise at least $210 million in initial paid-in capital within 12 months and maintain a minimum Tier 1 leverage ratio of 12% for three years after opening. It must also commence operations within 18 months, or the approval will lapse. The relevant deadlines are September 2027 and March 2028, respectively.OpenReserve plans to offer tokenized deposits, treasury management, foreign correspondent banking, and Banking-as-a-Service for institutional clients. The full-service national bank charter, upon final approval, would allow it to accept deposits and conduct lending activities.OpenReserve previously completed a $25 million seed funding round led by a16z crypto, with participation from Coinbase Ventures, Jump Capital, and Wintermute Ventures, among others. The company plans to establish a wholly-owned subsidiary to issue and redeem dollar-denominated, reserve-backed stablecoins, but that subsidiary has not yet filed an application with the OCC. (Decrypt)
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TrueDAO Completes $10 Million Strategic Round Led by Brevan Howard Digital
TrueDAO, a decentralized finance infrastructure project, announced the completion of a $10 million strategic funding round led by Brevan Howard Digital, with participation from Zee Prime Capital and Jump Capital. The new funds will be used for AI protocol development, intelligent risk control, security auditing, and the development of AI-driven risk monitoring and stress testing systems to optimize smart contracts and protocol modules, thereby enhancing infrastructure capabilities. (Decrypt)
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AI coding company Blitzy completes $200 million funding round, with Jump Capital among participants
Blitzy, an AI coding company co-founded by former Nvidia architect Sid Pardeshi, has announced the completion of a $200 million funding round. Northzone led the round, with participation from Battery Ventures, Jump Capital, and crypto investment firm Morgan Creek Digital, among others. It is reported that the Blitzy platform can parse complex systems with over 100 million lines of code and execute development, testing, and verification tasks in parallel through thousands of AI agents. This model is seen as a significant application direction for Agentic AI in the development field. The new funds will be used to expand research and development as well as market outreach, focusing primarily on highly regulated industries such as finance. (Techfundingnews)
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