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Tech billionaires unite to establish a new bank, Erebor, which will offer Crypto Assets services.
According to Gate News bot, the Financial Times reports that several well-known entrepreneurs in the technology sector are joining forces to create a new bank called Erebor. The main initiators include Palmer Luckey, co-founder of Anduril, Joe Lonsdale, co-founder of Palantir, and Founders Fund under Peter Thiel.
The bank has currently submitted an application for a national bank charter to the United States. According to the application documents disclosed this week, Erebor plans to offer traditional banking products and cryptocurrency-related services to corporate and individual clients.