Erebor Bank has been granted a national banking license, becoming the first newly established bank to be approved during Trump's second term.

This article is machine translated
Show original
According to the WSJ, U.S. regulators have approved Erebor Bank for a nationwide banking license, making it the first newly established bank approved during Trump's second term. Founded by Palmer Luckey, the bank focuses on providing financial services to tech startups and high-net-worth individuals. With initial capital of approximately $635 million, it aims to fill the market gap left by the collapse of Silicon Valley banks. Erebor's investors include a16z and Founders Fund, and it plans to leverage blockchain technology to provide 24/7 settlement services, primarily serving defense, industrial, and cutting-edge technology companies.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
63
Add to Favorites
13
Comments