Coastal Financial in Everett, Wash., quietly added de novo Erebor Bank to its roster of correspondent partners.
Erebor, which opened in February after receiving speedy charter approval, is included in a slide in Coastal’s latest earnings presentation. The slide didn’t specify what types of services are being used.
Erebor has been the subject of speculation and political inquiry, as the company touted its close connections to regulators, including OCC head Jonthan Gould, in fundraising documents reported on last year, claiming these connections would help ensure a speedy charter approval.
Erebor, which plans to deal in stablecoin, is backed by PayPal co-founder Peter Thiel and Anduril founder Palmer Luckey.