Crypto Bank Erebor Approved for Conditional Federal Bank Charter by OCC
The U.S. Office of the Comptroller of the Currency has granted conditional national bank status to Erebor Bank, a new tech-oriented bank seeking to rise into the gap left by the collapse of several such lenders in 2023, including Silicon Valley Bank.
OCC chief Jonathan Gould said the Wednesday approval — the first new-bank charter in his tenure at the regulator — offers “proof that the OCC under my leadership does not impose blanket barriers to banks that want to engage in digital asset activities.”
“Permissible digital asset activities, like any other legally permissible banking activity, have a place in the federal banking system if conducted in a safe and sound manner,” Gould said in a statement.
The firm, leaning into the tech…
