Robinhood Ventures Fund I puts $30 million into Erebor Bank
- —The investment is structured as a preferred stock purchase, not common shares
- —Erebor deposits climbed from roughly $1.1 billion to $4.6 billion by July 2026
- —Annualized revenue was estimated at about $112 million as of July 2026
- —Existing investors include Lux Capital and Andreessen Horowitz
Why it matters: A federally chartered bank building stablecoin payments adds another link between digital assets and regulated banking.
Source: Crypto Briefing