Erebor Bank limits free stablecoin-to-fiat conversion
- —Restrictions took effect Sept. 15, 2026, for arbitrage clients
- —Erebor attracted about $4 billion in deposits in six months of operation
- —The bank's valuation exceeds $8 billion, with Founders Fund among investors
- —Regular clients retain free conversion of USDC and USDT
Why it matters: A major crypto bank is adjusting its monetization model, setting the tone for other players in the stablecoin market.
Source: Crypto Briefing