Erebor Bank has been granted a conditional national bank charter by the U.S. Office of the Comptroller of the Currency (OCC), allowing it to focus on digital asset banking. This move signals regulatory acceptance of virtual currencies within the federal banking system, provided activities are conducted safely, as noted by Acting Comptroller Jonathan Gould. Erebor Bank plans to cater to technology firms and high-net-worth individuals, though its leadership remains undisclosed. The bank is required to comply with prudential standards during its probationary period, marking its entry into both traditional and digital currency services.