The Japanese financial giant is betting on a chartered US bank that settles payments around the clock on blockchain rails.
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.
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.
