US authorities approve charter for crypto neobank Erebor

U.S. authorities have approved a charter for the crypto neobank Erebor, Unfolded reported, citing the Financial Times. The venture is backed by prominent tech industry figures including Peter Thiel and Palmer Luckey. Erebor plans to offer banking and crypto services to companies in sectors such as AI, defense, manufacturing, and cryptocurrency. The neobank aims to fill the startup financing gap created by the collapse of Silicon Valley Bank (SVB).