Investments · Banking (digital)
SBI Holdings to invest $100 million in US digital bank Erebor
- Investor
- SBI Holdings (via SBI Holdings USA) (Tokyo)
- In
- Erebor Bank, Columbus, Ohio
- Value
- About $100M (stake size not disclosed)
- Status
- Announced on November 2, 2026.
- Date
- 2026-11-02
SBI Holdings will invest $100 million in Erebor Bank, a US digital bank based in Columbus, Ohio, through its US subsidiary. Erebor was co-founded in 2025 by Anduril Industries co-founder Palmer Luckey, Owen Rapaport and others, and began operating in February 2026 after receiving a national bank charter. It serves companies in defense, AI, energy, robotics and advanced manufacturing, and its deposits exceeded $7 billion as of September 2026.
Why it matters
The investment strengthens SBI's US business base and gives it a partner in blockchain-based banking. Erebor's own core system settles transactions at any hour and accepts stablecoin deposits, an area where SBI is already active in Japan through its yen stablecoin and its ties with Ripple and Circle.
A bank for technology companies
Erebor received its national bank charter from the Office of the Comptroller of the Currency and deposit insurance from the Federal Deposit Insurance Corporation before opening in February 2026. Each client works with a dedicated banker. Besides deposits, the bank provides growth capital, asset-based lending, equipment financing and fund banking. Owen Rapaport is chief executive, and co-founder Jacob Hirshman is chairman.
Next steps for SBI
SBI said the investment will deepen its understanding of next-generation digital banking and that it will explore broad collaboration between the SBI Group and Erebor. In Japan, the group issues the yen stablecoin JPYSC through SBI Shinsei Trust & Banking and handles the dollar stablecoins USDC and RLUSD.
Sources
Kakehashi M&A News home
