The US Comptroller’s office of money Provided conditional status of national bank In the ebor bank, a new tech -focused bank seeking to rise in the space left by Falling a lot of lenders In 2023, including the Silicon Valley Bank.
OCC Chief Jonathan Gould said Wednesday’s approval-the first new charter of the bank in his regulator-offered a “proof that OCC under my leadership did not impose blanket barriers to banks who wanted to engage in digital properties.”
“Digital asset activities are allowed, such as any other legal allowable banking activity, there is a place in the federal banking system if carried out in a safe and orderly way,” Gould said in a statement.
The firm, leaning on the tech world love for the names associated with the fiction by JRR Tolkien, described itself In its charter application As a national bank that “operates as a banking organization that provides traditional banking products, as well as products and services associated with virtual currency.”
The “Initial Approval of Banking Regulator condition depends on the new institutional meeting that proceeds requirements to a probationary type type. The Agency’s approved letter It is noted that Erebor is “targeting its products and services to technology companies and high-net-worth-using individuals who use virtual currencies.”
This year, while crypto-boosting president Donald Trump’s president has returned to the government’s earlier resistance to Businesses tied to crypto, US banking agencies, which also included federal reserve and federal deposit insurance Corp., sought to issue a guide to industry policy policy.
In 2021, there was an anchorage digital Opened the movement of the crypto -focused banks in the chartering of OCCAnd it has been standing in that category for many years, but a number of digital assets companies have recently moved to find Federal Banking Charters in the US The OCC is the only regulator that provides such charts at the national level.
