SBI Holdings USA announced a plan to invest $100 million in the US digital bank Erebor Bank, N.A. on November 2, 2026. The investment aims to explore the use of blockchain technology for payment settlements and stablecoin integration within a regulated banking environment.
Erebor operates under a national bank charter granted by the Office of the Comptroller of the Currency and secured FDIC insurance in February 2026. By September 2026, the bank's deposits reached over $7 billion. The institution utilizes a proprietary core banking system designed for continuous 24/7 transaction processing.
The bank focuses on sectors such as AI, defense, energy, and robotics. Its co-founders are Owen Rapaport and Palmer Luckey, with backing from firms like Founders Fund and Lux Capital. This new capital injection from SBI is expected to bolster Erebor's balance sheet and expand its institutional investor base.
SBI currently manages a yen-denominated stablecoin, JPYSC, which saw lending balances exceed ¥100 billion as of October 2026. The partnership with Erebor aligns with SBI's broader strategy to enhance its presence in US financial infrastructure and potentially bridge payment systems between Japan and the United States.
