TBPN Palmer Luckey: Why I Started My Own Bank
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Feb 20, 2026 
Palmer Luckey, entrepreneur and hardware engineer who founded Oculus and other tech ventures. He explains why he launched Erebor, a bank for deep tech and U.S.-aligned finance. He talks 24/7 dollar-backed stablecoin settlement and human-centered, vault-backed banking. He also updates the M64 gaming hardware, critiques modern game industry trends, and shares his views on VR’s near future.
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Banking For Deep Tech And U.S. Interests
- There was a clear gap for banks aligned with deep tech and U.S. strategic interests after SVB failed.
- Palmer built Erebor to serve hard-tech companies conservatively and avoid bailout dependence.
Implement 24/7 Dollar Settlement
- Adopt dollar-backed stablecoins for 24/7 settlement because businesses increasingly demand nonstop payment rails.
- Palmer predicts most forward-looking banks will be forced to adopt stablecoin settlement to remain competitive.
Erebor Will Have A Physical Vault
- Erebor will maintain physical vaulted storage and treasure as part of its offering, not be a purely digital 'ether' bank.
- Palmer notes customers want secure vaulted storage, making it a key differentiator for the bank.