SBI Holdings Invests $100 Million in Erebor Bank

Japan's financial group SBI Holdings has invested $100 million in the U.S. digital bank Erebor Bank through its American subsidiary, SBI Holdings USA. Erebor was co-founded in 2025 by Palmer Luckey, co-founder of Anduril Industries, along with Owen Rapaport and others. The bank has obtained a charter from the Office of the Comptroller of the Currency and deposit insurance from the Federal Deposit Insurance Corporation, and is set to open in February 2026. As of September 2026, the bank's deposits exceeded $7 billion, primarily serving companies in defense technology, AI, energy, robotics, and advanced manufacturing, supporting stablecoin deposits and withdrawals, as well as blockchain-based 24/7 settlements. SBI stated that this investment aims to strengthen its business foundation in the U.S. and deepen its understanding of next-generation digital banking, with plans to explore broader cooperation opportunities with Erebor in the future.

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