Crypto Friendly Digital Bank Erebor Sees FDIC Application Approved
Erebor Bank’s deposit insurance application has been approved by the Board of Directors of the Federal Deposit Insurance Corporation.
Erebor received approval for a bank charter in October, the first de novo national bank charter issued under the current administration.
Headquartered in Columbus, Ohio, the bank was founded by top VCs/entrepreneurs. This includes Peter Thiel, Joe Lonsdale, and Palmer Lucky. Diogo Mónica, founder of Anchorage Digital, is a member of its Board of Directors. Owen Rapaport is the bank’s CEO.
The FDIC notes that Erebor Bank’s proposed business model will focus on providing deposit and lending products to businesses and individuals in the technology, payment systems, investment, and defense…
