SBI Holdings to Invest $100 Million in Erebor Bank to Expand US Digital Banking Business

November 3 — Japanese financial giant SBI Holdings announced that it will invest $100 million in US digital bank Erebor Bank through its US subsidiary SBI Holdings USA. Erebor mainly serves companies in defense tech, AI, energy, robotics and advanced manufacturing, and supports stablecoin deposits and withdrawals as well as blockchain-based round-the-clock settlement. SBI said the investment aims to strengthen its business base in the US and deepen its understanding of next-generation digital banking, and that it will also explore opportunities for broader cooperation with Erebor in the future.

Erebor was co-founded in 2025 by Anduril Industries co-founder Palmer Luckey, Owen Rapaport and others. It has obtained a bank charter from the US Office of the Comptroller of the Currency (OCC) and deposit insurance eligibility from the US Federal Deposit Insurance Corporation (FDIC), and opened in February 2026. As of September 2026, the bank's deposits had exceeded $7 billion.