Erebor Bank Secures OCC Charter for Crypto Banking

Erebor Bank has received conditional approval from the Office of the Comptroller of the Currency (OCC) to operate as a national bank in the United States. This marks a significant step forward for Erebor, allowing them to serve startups operating in cryptocurrency, AI, and defense industries. Founded by Palmer Luckey and Joe Lonsdale with backing from Peter Thiel’s Founders Fund, Erebor stepped in after Silicon Valley Bank’s collapse in 2023, aiming to bridge the gap left in the financial landscape.