Peter and Palmer Lucky, co-founders of PayPal, Palantir Technologies and Founders Fund, are embarking on a big business in the USA. Peter Thiel, Facebook’s first outside investor, has a personal fortune of over $9 billion and is known for foreseeing digital opportunities. With the decision it just took, the US OCC once again declared that the crypto pressure during the Biden era is officially over.
Erebor Bank OCC Approval
The Office of the Comptroller of the Currency (OCC) announced today that it approved the national bank establishment application of Erebor Bank, located in Columbus, Ohio. Supported by Palmer Lucky and Peter Thiel after extensive review crypto bank was officially approved. Jonathan V. Gould, Chairman of the Comptroller of the Currency, said;
“Erebor is the first new bank to receive preconditional approval since I came to the OCC. I am committed to a dynamic and diverse federal banking system, and the decision we made today is a first but important step toward fulfilling that commitment.”
Today’s decision is also proof that the OCC, under my leadership, does not impose blanket barriers to banks seeking to engage in crypto asset activities. Like other legally permitted banking activities, crypto asset activities It can also find a place in the federal banking system if it is conducted in a safe and sound manner. “The OCC will continue to provide a pathway for innovative approaches to financial services to ensure a strong and diverse financial system that remains relevant over time.”
Banks, which protect more than $85 trillion in assets, began to show intense interest in the cryptocurrency business this year, and Trump’s coming to office was effective in this. With Erebor Bank, many cryptocurrency companies will be able to serve their customers much more flexibly. Moreover, the bank internally cryptocurrency service Since it is the first licensed institution to provide services, it will make a name for itself in the future.
