The new Cryptobank EREBOR, supported by the co -founder of Palantir Joe Lonsdale and the Founders Fund Venture Fund, plans to become an alternative to the bankrupt American Silicon Valley Bank and intends to integrate digital assets in Traditional banking services. The bank intends to offer the services of storage and trading of crypto assets.
“EREBOR will be a national bank providing traditional banking products, as well as products and services related to virtual currency for legal and private individuals,” the EREBOR statement said.
According to the application for registration of the Charter of the EREBOR Bank, submitted to the OCC controller (OCC) and the US Federal Reserve System, two General Directors Owen Rapaport and Jacob Hirshman are headed by the new company. Hirschman is a former Circle adviser for products and issues of interaction with regulators. The headquarters of the new credit institution will be located in Columbus, Ohio.
According to EREBOR representatives, Palmer Lucky and Joe Lonsdale will not participate in the Bank of the daily operating room.
Earlier, Circle, the issuer of the USDC and EURC stabilcoins, has submitted an application for a license from the National Trust Bank license to the monetary control controller.
Source: Bits
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