Erebor Bank, a new financial institution focused on the cryptocurrency sector, has officially opened, marking the first national banking charter granted during the second Trump administration. Chartered by the Office of the Comptroller of the Currency (OCC), Erebor Bank targets the innovative economy with a focus on artificial intelligence, defense technology, and digital assets. The bank aims to fill the gap left by the collapse of Silicon Valley Bank in 2023, offering services like GPU equipment financing for AI data centers and guaranteed loans to defense tech startups. Backed by major investor Peter Thiel and his Founders Fund, Erebor Bank plans to operate a stablecoin business and integrate fiat-to-stablecoin exchange systems for continuous operation. The bank's founders, Palmer Luckey and Joe Lonsdale, are long-term allies of Thiel, who played a controversial role in the Silicon Valley Bank collapse by advising withdrawals that accelerated the bank run.