Trump administration approves Erebor Bank, a crypto-friendly lender, signaling deeper U.S. integration of digital assets into the regulated banking system.
The United States has approved a new crypto-friendly national bank, marking a key milestone for digital asset finance. During the second term of president Donald Trump, regulators approved a national charter for Erebor Bank. As a result, the approval represents an increasing amount of federal support for regulated crypto banking throughout the country.
U.S. Regulators Grant Charter to Erebor Bank
The Office of the Comptroller of the Currency approved the on February 6, 2026. According to the Wall Street Journal, the charter allows Erebor Bank to do business across the country. Therefore, Erebor is the first newly created bank to be given a full national charter under the aegis of Trump’s second administration.
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Erebor Bank starts with around $635 million of capital. In addition, the lender aims to cater to startups, venture-backed companies and high net worth clients. This focus is an answer to a gap in the market that emerged after Silicon Valley Bank had collapsed in 2023. As a result, many technology and crypto companies have found it difficult to find stable banking partners.
The approval comes after a wider regulatory change as a result of a start in December 2025. At the time, a number of major crypto companies got conditional national trust bank charters. These early approvals were to integrate digital asset services into the federal banking framework.
Crypto Firms Gain Ground in Federal Banking System
Erebor Bank is unique in having the powerful financial strength behind it. The lender has the backing of technology investors such as Palmer Luckey, Joe Lonsdale and Peter Thiel. Furthermore, the bank is looking to invest in what it calls the “innovation economy,” including crypto, defense technology and advanced software companies.
In addition, other institutions with a crypto focus have also gained regulatory traction. Circle and Ripple were approved conditionally in December 2025. They are planning to create First National Digital Currency Bank and Ripple National Trust Bank. Therefore, both the firms are looking to expand stablecoin and payment services in federal supervision.
Meanwhile, Fidelity Digital Assets, Paxos and BitGo also received approvals. These firms changed existing state trust charters into national ones. As a result, they can now operate in the United States under one single federal regulator, increasing efficiency and compliance.
However, all applications are not complete. A crypto venture named World Liberty Financial, which was co-founded by members of the Trump family, made a fresh application on January 7, 2026. The proposed World Liberty Trust Company wants a national trust charter. It aims to issue and control the stablecoin’s USD1.
Currently, USD1 is said to be in circulation with more than $3.3 billion. Therefore, approval would further increase regulated stablecoin offerings in the U.S. market. The regulators have not yet decided on this application.
Overall, the approval of Erebor Bank is part of a larger trend in US policy. While some caution is still needed, authorities do seem eager to endorse the existence of crypto banking as long as it falls within clear regulatory parameters. Consequently, the move may boost confidence from institutions looking for compliant digital asset services.
Source: https://www.livebitcoinnews.com/trump-administration-approves-new-crypto-friendly-bank/
