Crypto-friendly bank Erebor in talks for $1.5 billion fundraise at $9.5 billion valuation: FT

# Crypto-friendly bank Erebor in talks for $1.5 billion fundraise at $9.5 billion valuation: FT

> Evidence tier: B1
> Evidence type: Independent digital-asset media report summarizing Financial Times reporting
> Source: [CoinDesk](https://www.coindesk.com/business/2026/08/11/crypto-friendly-bank-erebor-in-talks-to-raise-usd1-5-billion-at-usd9-5-billion-valuation-ft)
> Published: 2026-08-11
> Captured: 2026-08-12T01:34:20.288Z

## Source summary

CoinDesk, citing the Financial Times, reports that Erebor Bank is in advanced talks to raise about $1.5 billion at a roughly $9.5 billion valuation. Deposits reportedly rose from $1.1 billion at the end of March to $4.6 billion by the end of July; the capital would support lending growth and a required 12% leverage ratio while Erebor develops deposits, credit, stablecoin, treasury and payment services for technology and payment-sector clients.

## Why it matters

A better-capitalized regulated bank could add deposit, treasury and stablecoin infrastructure for payment companies that have limited banking options. The round is not complete, the figures are attributed to the FT, and the report gives no live cross-border corridor, payment volume, stablecoin product terms or achieved settlement benefit.

## Key numbers

- **Funding round under discussion:** about $1.5 billion
- **Proposed valuation:** about $9.5 billion
- **Reported deposits:** $1.1 billion in March; $4.6 billion in July
- **Required leverage ratio during first three years:** at least 12%

## Topics and entities

- Industry lane: Web3 & stablecoin payments
- Entities: Erebor Bank
- Company intelligence
- Web3 payments
- Cross-border payments

## Evidence and credibility note

Independent CoinDesk report based on Financial Times reporting and unnamed sources. The proposed financing and valuation remain under discussion; they are not completed transaction terms.

Date evidence: Automatically verified from JSON-LD datePublished: 2026-08-11T14:39:12.365Z

## First-party corroboration

No directly corresponding A1 company announcement is currently linked.

## Original-source traceback

[Open the original CoinDesk report](https://www.coindesk.com/business/2026/08/11/crypto-friendly-bank-erebor-in-talks-to-raise-usd1-5-billion-at-usd9-5-billion-valuation-ft)

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This is a structured Payments Hot Markdown source summary derived from external reporting. Use the original link above to read the publisher's article; copyright remains with the original publisher.