Inside the fine print: what the approval implies for compliance, competition and the road to launch
Key takeaways
- The Office of the Comptroller of the Currency (OCC) granted preliminary, conditional approval for a new national bank charter for Erebor Bank — a tech- and crypto‑adjacent entrant backed by prominent Silicon Valley investors (Oct 15, 2025).
- The OCC’s letter is not a licence to open doors: Erebor must still obtain Federal Deposit Insurance Corporation (FDIC) deposit insurance and apply for membership with the Federal Reserve System before launch.
