Trump-Allied Erebor Gains Federal Charter for Crypto Bank, Shaking Up Stablecoin Wars

A key agency within the Treasury Department granted a conditional bank charter Wednesday to a crypto-focused bank for the first time under the current Trump administration, and only the second time ever, in a move likely to disrupt the exploding stablecoin sector. The Office of the Comptroller of the Currency today conditionally approved a bank charter application for Erebor, a crypto-focused bank with ties both to Silicon Valley’s most powerful players and President Donald Trump.  The bank, named after the ...