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Tech billionaire Peter Thiel and other investors are launching Erebor, a new bank catering to crypto startups and traditional lending. The move comes after the collapse of Silicon Valley Bank, a key player in crypto banking.
- Erebor Bank will serve crypto startups and traditional clients, blending FinTech with conventional banking.
- The bank targets key sectors including AI, defense, and digital assets, as well as non-US firms seeking US banking access.
- Erebor aims to address gaps in credit access for clients underserved by existing financial institutions.
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