First US Crypto Bank Gets the Green Light — Backed by Thiel, Luckey, and Lonsdale

The US Office of the Comptroller of the Currency has granted preliminary, conditional approval for Erebor Bank’s national charter, opening the door for a tech- and crypto-focused lender backed by Palmer Luckey, Joe Lonsdale, and Peter Thiel. The decision came just four months after Erebor’s application and followed Washington’s rollout of the GENIUS Act, which set new standards for stablecoin issuance. The bank plans digital-only operations from Columbus and New York, supported by $275 million in capital and a conservative risk framework. OCC Greenlights Erebor’s $275M Charter The Office of the Comptroller of the Currency (OCC), the federal agency overseeing national banks, granted Erebor preliminary and conditional authority to form a federally chartered bank on Wednesday source: https://beincrypto.com/first-us-crypto-bank-gets-the-green-light-backed-by-thiel-luckey-and-lonsdale/