SBI plans $100 million investment in US digital bank Erebor to explore blockchain settlements

The Japanese financial giant is betting on a chartered US bank that settles payments around the clock on blockchain rails Japan’s SBI Holdings plans to invest $100 million in Erebor Bank, N.A., a US digital bank built to settle payments on blockchain infrastructure. SBI Holdings USA announced the move on November 2, 2026. The stated goal is to explore blockchain-based settlement and stablecoin functions inside regulated banking. What SBI is buying into Erebor holds a national bank charter from the Office of the Comptroller of the Currency (OCC) and received FDIC insurance in February 2026. The bank has grown fast. Deposits passed $7 billion as of September 2026, roughly seven months after it secured its charter and insurance. Under the hood, Erebor runs a proprietary core banking system. It uses blockchain technology to settle transactions continuously, which allows payments to move 24/7. The system also supports stablecoin transactions and connects to several major payment networks. Who is behind Erebor Erebor’s co-founders include Owen Rapaport and Palmer Luckey. Its investor roster includes Founders Fund and Lux Capital. The bank targets industries it groups under the banner of ...