Crypto neobank Erebor secures US national bank charter

Cryptocurrency neobank Erebor has obtained a U.S. national bank charter, Cointelegraph reported on Feb. 6. This marks the first such charter granted under the second Trump administration. Erebor has also secured deposit insurance approval from the Federal Deposit Insurance Corporation (FDIC), following its approval from the U.S. Office of the Comptroller of the Currency (OCC). The company plans to offer services including financing for high-performance AI chip purchases and crypto-collateralized loans. Erebor raised $350 million in a funding round late last year.