The Office of the Comptroller of the Currency (OCC) has granted "preliminary conditional approval" to Erebor Bank, a Peter Thiel-backed start-up that will focus on cryptocurrency and artificial intelligence. Jonathan Gould, OCC director, said it was the first new bank to receive such approval since he took office in July.
Backed by Peter Thiel's Founders Fund and Haun Ventures, Erebor Bank aims to fill the gap left by the collapse of Silicon Valley Bank (SVB) in 2023. The bank plans to offer traditional crypto-related banking services and will hold some cryptocurrencies on its balance sheet. It is headquartered in Columbus, Ohio, and has a branch in New York.
OCC pre-approves Peter Thiel-backed crypto and AI bank Erebor Bank
2025-10-15 15:39:17
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