B2B stablecoin tech provider Infinite rolls out banking services powered by Thiel-backed Erebor Bank

Erebor Bank is supporting institutional stablecoin firm Infinite’s new banking offering.

Infinite Accounts are dedicated bank accounts with unique routing numbers that natively support both fiat payment rails and stablecoin transactions, through a single API integration, according to an announcement on Wednesday.

In other words, Infinite will offer a range of traditional banking services, including deposits, withdrawals, ACH, and domestic and international wire transfers, alongside its stablecoin functionality, like minting/burning stablecoins tied to fiat and onchain transfers.

The move comes amid a wave of institutional stablecoin adoption, spurred in part by the GENIUS Act that passed into law last summer. On Tuesday, for instance, the Peter Thiel-backed fintech unicorn Ramp integrated USDT across its product suite.

Infinite has positioned itself as the “enablement layer” for B2B stablecoin adoption, aiming to make stablecoins as simple to use as more familiar payment methods. The firm is among a host of tech solutions that provide turnkey APIs and SDKs to accelerate stablecoin integrations, like Bridge or BVNK.

“We built Infinite to make stablecoin payments as easy, if not easier, to adopt as any other payment method,” said Infinite CEO Nikhil Srinivasan. “Real bank accounts, real payment rails, and stablecoin capabilities – all through one platform that businesses can integrate into their existing workflows.”

To some degree, Infinite Accounts can help mitigate the friction between on- and off-chain financial activities. The release cites the example of a payroll company sending ACH or stablecoin payments from the same account and a treasury platform programmatically converting fiat deposits into stablecoins, by collapsing “what has traditionally required multiple banking relationships, compliance vendors, and crypto infrastructure providers into a single experience.”

Fiat balances in Infinite Accounts may be eligible for FDIC insurance, though stablecoin balances are not, according to the announcement. The release also notes that Infinite is not a bank.

Erebor Bank, which is supporting traditional banking components of Infinite Accounts, is a recently chartered U.S. national bank founded by controversial tech entrepreneur Palmer Luckey, who also runs military tech manufacturer Anduril Industries. The bank is backed by prominent investors like Thiel’s Founders Fund, Andreessen Horowitz, and others.

Pitched as a tech-friendly operation, Erebor said at launch it would look to support crypto use cases and companies. The Financial Times reported in October that Erebor’s application did not receive “special treatment” from the Trump administration, despite co-founders Luckey and Joe Lonsdale maintaining ties to the president.