A fresh banking company is taking shape in Silicon Valley. This time, it comes from some of the most recognizable names in technology. Palmer Luckey, Peter Thiel and Joe Lonsdale are supporting Erebor Bank, a new institution aimed at serving Crypto Firms, to Startups, Defense technologyand advanced production, the types of companies that they were left In Limbo after the collapse of Silicon Valley Bank in 2023.
Fill the SVB gap
Before his fall, Svb played a greater role in financing the initial phase technology. His absence created a void that traditional banks were not exactly eager to fill. Erebor Bank desires TO Enter in that space.
ICYMI: a new American bank supported by @Palmerluckey AND @Jtlonsdale aims to fill the crypto sizes left by Svb.
Called Erebor, the bank presented a national card and plans to serve Crypto and defense startups with particular attention to Stablecoins and digital activities.
– Levinocrypto (@Levinocryp45219) 3 July 2025
It is a digital operation first with its main office in Columbus, Ohio, and a presence in New York. The goal is to build a modern institution that includes the speed and complexity of the world of startups, particularly In crypto.
A project supported by Stablecoin
One thing that distinguishes Erebor is his intention To actively support Stablecoin. The bank has already requested a national bank card and plans to keep the Stablecoins in its budget. That move could give him an advantage when it comes to serving companies work With tokenized activities or global payments. The Co-Ceos Owen Rapaport and Jacob Hirshman, both with experience in cryptographic infrastructure, are guiding this plan forward.
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Founders and mission
Palmer Luckey, known for Oculus and the Andril defense company, is financially supporting the project but will remain outside daily operations. Peter Thiel and Joe Lonsdale bring deep links with the risk capital through the founders and 8vc. The leadership team, Including Rapaport, Who Previously he worked on the circlesees Erebor as an anchor of salvation for the technological sectors they have state undernight By SVB He went under.
The goal is to create a bank that does not take sides. Where others see the risk, Erebor sees potential. It is being launched as the first real banking option designed by scratch to support the tools and trends that define the next decade.
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Because now it could be the right time
Tempism is no coincidence. The start ecosystem has not completely recovered from the improcious of Svb. The founders still struggle to find banking partners who truly get their business models. MoreoverStablecoin regulation is finally departure To take shape and different crypto companies Pleases Circle and Anchorage are moving towards regulated banking models. Erebor wants to anticipate that curve.
The bank claims that it provides to become one of the most strictly regulated institutions that work with Stablecoins. If this happens, it could offer a mixture of safety and speed that few others can match.
What awaits us
Even with strong support, Erebor has a long regulatory road to go. Obtain a national card means Meeting standards established by the OCC, Federal Reserve and other agencies. And since then Crypto is still It is likely that a sensitive topic for many regulators, the bank’s digital activity strategy heavy check.
But Erebor is entering the space At a time when the rules are clearer AND THE The question is higher. The expansion of Circle and the support point of Anchorage have already shown that there is a real appetite for the crypto-native banking options that play according to the rules.
Pending
Erebor is not trying to recreate the past. He is entering the future with a clear attention to Stablecoin, a safe case e smarter loan. If it becomes the reference bank for technological startups or As soon as It helps to advance the conversation, is already part of the next chapter in the history of Crypto and Fintech. The gap left by Svb is still There. Erebor thinks he has the project To finally close it.
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Erebor Bank is launched by technological characters such as Palmer Luckey, Peter Thiel and Joe Lesdale to serve the Crypto startups, Ai and defender left behind after the collapse of Svb.
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The bank plans to support Stablecoin directly in its budget and has requested a national banking card to operate as a regulated institution at the federal level.
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Erebor Bank’s leadership includes the former Circle and Veterans staff of cryptocurrencies that aim to create a regulated and digital bank tailored to the start -up needs.
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The project is designed to fill the startup banking gap with rapid movement tools such as tokenized activities, global payments and advanced production.
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In case of success, Erebor Bank could become one of the main actors of the bank crypt by combining innovation with full regulatory compliance.
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