Peter Thiel-Backed Crypto Bank Erebor Gets OCC Greenlight as Ripple, Circle Await Charter Decisions

U.S. regulators have granted Erebor Bank, backed by billionaire Peter Thiel and entrepreneurs Palmer Luckey and Joe Lonsdale, conditional approval for a national bank charter. The decision makes Erebor one of the few digital-asset-focused institutions to receive such authorization, signaling a policy shift under President Donald Trump’s administration.