In brief
- Erebor became the first crypto bank to win a conditional federal charter under the Trump administration, and only the second ever after Anchorage Digital.
- Backed by Palmer Luckey and the firms of Joe Lonsdale and Peter Thiel, Erebor will soon likely join Anchorage in having certain advantages regarding the issuance of stablecoins under the recently passed GENIUS Act.
- Other major crypto players including Coinbase, Stripe, and Circle have also applied for their own bank charters in recent months.
A key agency within the Treasury Department granted a conditional bank charter Wednesday to a crypto-focused bank for the first time under the current Trump administration, and only the second time ever, in a move likely to disrupt the…
