OCC Approves Preliminary Charter for Crypto-Focused Erebor Bank

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The US Office of the Comptroller of the Currency (OCC) has granted Erebor Bank preliminary, conditional approval for a national charter. Backed by Palmer Luckey, Joe Lonsdale, and Peter Thiel, Erebor plans digital-only operations from Columbus and New York with $275M in capital. Full regulatory approval, including FDIC clearance, is still required.

[alex10]

Regulatory clarity like this paves the way for safer, mainstream crypto banking adoption.

[Nahid10]

The OCC’s approval could inspire more institutions to explore blockchain-backed banking models.