SBI Holdings plans $100 million investment in US digital bank Erebor

SBI Holdings plans $100 million investment in US digital bank Erebor

SBI Holdings said on Monday, 2 November 2026 that it plans to invest $100 million in Erebor Bank, the US digital bank co-founded by Anduril co-founder Palmer Luckey and Owen Rapaport. The announcement came in a press release from the Japanese financial group.

The investment will be made through SBI Holdings USA, the group’s American arm, and has not yet closed. In the release, SBI said the move would “strengthen its US business foundation and provide opportunities to deepen cooperation with Erebor”.

Erebor Bank operates under a national bank charter from the Office of the Comptroller of the Currency and FDIC deposit insurance, and began operations in February 2026. It was the first Trump-era national charter of its kind, and the bank has grown quickly since: its deposits surpassed $7 billion in September 2026.

Erebor serves companies in AI, defense, energy, robotics and advanced manufacturing. The bank lends against growth-stage businesses, assets and equipment, banks investment funds, and runs blockchain-based settlement alongside stablecoin deposits and withdrawals.

For SBI, the deal extends a broader digital asset strategy that includes the yen-denominated stablecoin JPYSC, stablecoin services for the Japanese market covering USDC and RLUSD, security token issuance and trading, and stakes in Ripple Labs and Circle Internet Group.

The deal follows a purchase of $30 million of Erebor preferred stock by Robinhood Ventures Fund I in October 2026.