Erebor raises $100M from SBI Holdings
Erebor, the US digital bank co-founded by Palmer Luckey, is getting a $100M investment from Japan's SBI Holdings.
Erebor, the US digital bank co-founded by Palmer Luckey, is getting a $100M investment from Japan's SBI Holdings. The money comes through SBI Holdings USA.
Erebor was founded in 2025 by Luckey, CEO Owen Rapaport and chairman Jacob Hirshman, among others. The Columbus, Ohio-based bank began operating in February after receiving a national bank charter from the OCC and FDIC deposit insurance. It held more than $7B in deposits as of September, according to SBI.
The bank serves companies in defense, AI, energy, robotics and advanced manufacturing. It offers growth capital, asset-based lending, equipment financing and fund banking. Its in-house core supports blockchain-based settlement, weekends included, and stablecoin deposits and withdrawals.
SBI plans to explore broader collaboration with Erebor. The group issues the JPYSC yen stablecoin, handles USDC and RLUSD in Japan, and has backed Ripple and Circle.
The read: a US national charter with stablecoin rails is becoming a strategic asset for groups building stablecoin businesses across currencies.