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Erebor Bank, backed by tech investors, got conditional approval to launch as a national bank in Ohio, focusing on digital assets.
The Office of the Comptroller of the Currency conditionally approved Erebor Bank, a new national bank backed by tech figures including Palmer Luckey and Joe Lonsdale, marking the first such approval under Comptroller Jonathan Gould.
The bank, based in Columbus, Ohio, aims to serve tech and crypto firms with digital asset services, including stablecoin transactions, and has raised $275 million from investors like Peter Thiel’s Founders Fund.
Final approval hinges on meeting pre-opening requirements and FDIC confirmation.
Regulators stated the process followed standard review protocols, though Senator Elizabeth Warren raised concerns about potential risks and political influence.
The approval reflects a shift toward integrating regulated digital asset activities into the federal banking system.
Erebor Bank, respaldado por inversores tecnológicos, obtuvo una aprobación condicional para lanzarse como un banco nacional en Ohio, centrado en activos digitales.