Crypto bank Erebor Bank has been approved to operate in the United States
ChainCatcher news, according to market sources, the crypto bank Erebor Bank has been approved to operate in the United States. The bank is backed by Palmer Lucky and Peter Thiel, and aims to fill the gap left by the collapse of Silicon Valley Bank.
According to its banking license application, Erebor's target market is companies in the U.S. "innovation economy," especially tech firms focused on cryptocurrency, artificial intelligence, defense, and manufacturing. It will also provide services to individuals working at or investing in these companies.
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