Erebor Bank officially became the first new bank to obtain a national banking license during Trump’s second term, as noted by the Wall Street Journal on February 7th.
The bank has successfully secured a total of 635 million USD in initial funding to support its operations.
Erebor aims to address the significant market gap created by the collapse of several banks, specifically targeting issues left by the Silicon Valley banks.
US regulators have acknowledged Erebor Bank as a cryptocurrency-friendly institution, allowing it to operate effectively in the crypto market.
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