SBI Holdings logo. Public domain logo file on Wikimedia Commons; trademark of SBI Holdings, Inc. (SBI = SBI Holdings, J…
The bank serves businesses in AI, defense, energy, robotics and advanced manufacturing, providing lending and banking services alongside stablecoin deposits and withdrawals.
Mon 2 Nov 2026 · 10:46 EST · 2 min read
In Finance
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Japanese financial group SBI Holdings plans to invest $100 million in Erebor Bank, a digital bank founded by Anduril co-founder Palmer Luckey and Owen Rapaport to serve companies in AI, defense, energy and other advanced industries, according to a Monday press release.
The investment, which will be made through SBI Holdings USA, follows Robinhood Ventures Fund I’s $30 million purchase of Erebor preferred stock last month.
Erebor received a national bank charter from the OCC and FDIC deposit insurance before beginning operations in February 2026. Its services include growth financing, asset-based lending, equipment financing and fund banking, while its technology supports blockchain-based settlement and stablecoin deposits and withdrawals. The bank’s deposits surpassed $7 billion in September 2026.
SBI said the investment would strengthen its US business foundation and provide opportunities to deepen cooperation with Erebor.
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The Japanese group has been expanding its digital asset activities through JPYSC, a yen-denominated stablecoin issued under a trust structure, the handling of USDC and RLUSD in Japan, security token issuance and trading, and investments in Ripple Labs and Circle Internet Group.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.