<ul data-eligibleForWebStory="false"><li>Billionaire Peter Thiel is backing a new bank called Erebor, aiming to serve crypto, defense tech, and AI startups.</li><li>Erebor has filed for a national banking license and plans to cater to businesses and individuals involved in virtual currencies.</li><li>The venture has been in development since the collapse of SVB in 2023 and aims to provide financial services to underserved customers.</li><li>Erebor's goal is to offer traditional financial services along with specialized products for emerging sectors and global firms seeking access to the U.S. financial system.</li></ul>

Billionaire Peter Thiel Backs New Bank to Serve Crypto and AI Startups

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