Peter Thiel-Backed Erebor Secures Conditional US National Bank Charter
U.S. regulators have granted Erebor, a startup bank backed by Peter Thiel, Palmer Luckey, and Joe Lonsdale, a conditional national bank charter. The decision by the Office of the Comptroller of the Currency (OCC) marks a significant step toward mainstream acceptance of digital assets, positioning Erebor ahead of established players like Ripple and Circle.
Erebor aims to become "the most regulated entity conducting and facilitating stablecoin transactions." The approval process, completed in just four months, reflects the current administration's pro-innovation stance. The bank plans a fully digital launch, with operations pending final cybersecurity and anti-money laundering compliance checks.
The OCC emphasized that crypto-related activities must be conducted in a "safe and sound" manner. Erebor's federal framework allows blockchain technology to serve as a Core component of its operations, not merely an add-on.
