Ripple Labs has applied for a national bank charter from the OCC and a Federal Reserve Master Account to bring its RLUSD stablecoin under dual oversight, following Circle’s application. Market reacted positively, sending XRP up 2.87% to $2.24. Meanwhile, Peter Thiel backs new bank Erebor, and Belgium’s KBC Bank prepares to offer crypto investments.
Crunchbase data shows 187 new unicorns emerged in 2025, up 61% year over year, with AI startups making up 25% of the total. Sequoia and Andreessen Horowitz remained the most active backers, while Redpoint, Ribbit Capital, Felicis, 8VC and Amplify Partners climbed fast.
Infinite has introduced Infinite Accounts, a product that combines traditional bank payment rails and stablecoin networks through a single API for US businesses, powered by Erebor Bank’s regulated banking infrastructure.
According to Bloomberg, Erebor Bank, a crypto-friendly bank founded by Oculus creator Palmer Luckey, is in talks with investors for a new funding round at a valuation of at least $8 billion — nearly double its $4.35 billion valuation from late last year. The bank's deposits have skyrocketed from $1.1 billion to $4.05 billion over the past three months, adding nearly 400 new clients, and it expects to turn profitable within the year. Erebor holds a national bank charter from the Office of the Comptroller of the Currency and focuses on serving defense tech and cryptocurrency firms. Its backers include Lux Capital, 8VC, Andreessen Horowitz, and Founders Fund.
