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October 16, 2025Coinpaprika logoCoinpaprika

Erebor Bank Gets Conditional U.S. Approval to Launch Crypto and AI Services

Erebor has received conditional approval from the ￰0￱ of the Comptroller of the Currency to operate as a federally chartered ￰1￱ activation depends on meeting additional regulatory benchmarks including compliance infrastructure and potential Federal Deposit Insurance Corporation ￰2￱ and backers The bank secured $275 million in capital ￰3￱ backers include Palmer Luckey (founder of Oculus and Anduril) Joe Lonsdale (co-founder of Palantir managing partner at 8VC)

and Peter Thiel’s Founders ￰4￱ serve as strategic investors; none hold operational ￰5￱ scope Erebor targets sectors labeled as underserved by traditional banking: crypto AI defense and advanced ￰6￱ filings confirm the bank will hold and issue stablecoins directly

positioning this as a core line of business under strict federal ￰7￱ and structure Headquartered in Columbus Ohio with a secondary office in New York Erebor will be led by co-CEOs Jacob Hirshman and Owen ￰8￱ founders’ exclusion from management roles is intended to streamline compliance and mitigate regulatory friction.

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