Palantir- and Anduril-Backed Erebor Secures Conditional National Bank Charter with Crypto Focus

Erebor, a fully digital bank backed by defense contractor Anduril and data analytics firm Palantir, has received preliminary conditional approval for a national bank charter from the U.S. Office of the Comptroller of the Currency. The OCC's decision marks the first de novo bank approval under Comptroller Jonathan V. Gould's tenure, signaling a potential shift toward innovative banking models.

The crypto-friendly institution plans to hold portions of its reserves in stablecoins, bridging traditional finance with digital asset infrastructure. Erebor underwent the same rigorous review process as conventional banks, suggesting regulatory recognition of crypto-integrated banking as a legitimate financial service.

This development coincides with growing institutional adoption of blockchain-based financial solutions. The OCC emphasized its commitment to maintaining a dynamic banking system while applying consistent standards across all charter applications.