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Fortune
Fortune
Chris Morris

Peter Thiel is backing Palmer Luckey's Erebor digital bank, but that name has a dark history

Peter Thiel (Credit: Nordin Catic / Getty Images—The Cambridge Union)
  • Palmer Luckey is launching a new digital bank with backing from Peter Thiel. Erebor takes its name from The Lord of the Rings. It’s the latest in several businesses associated with the two that pay homage to the fantasy books.

Peter Thiel has signed on to back Palmer Luckey’s latest startup, a digital bank for startups and cryptocurrency companies named Erebor.

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