Erebor Secures Conditional Approval for National Bank Charter
Erebor has received preliminary conditional approval from the Office of the Comptroller of the Currency (OCC) to operate as a national bank. This move positions Erebor to serve the innovation economy, particularly crypto and AI startups.
Backed by tech luminaries like peter Thiel, Palmer Luckey, and Joe Lonsdale, Erebor aims to support startups in digital assets, AI, and defense. The OCCâs decision reflects a policy shift, allowing âsafe and soundâ digital asset activities within federally chartered banks.
Comptroller Jonathan V. Gould stated that Erebor is the first new bank to receive such approval since he took office. He emphasized that the OCC will not block banks from engaging in digital asset activities if they operate safely.
founded in 2025, Erebor plans to hold certain cryptocurrencies on its balance sheet and provide banking solutions to startups. Its main office will be in Columbus, Ohio, with a branch in New York City.
Upon final approval, Erebor will join over 1,000 institutions in the federal banking system, which holds over $16 trillion in assets. This entry could symbolize a shift in how institutional capital interacts with the digital asset space.
