July 2 (Reuters) - A group of tech billionaires led by

Anduril co-founder Palmer Luckey are launching a new

crypto-focused U.S. bank to fill the void left by Silicon Valley

Bank's collapse, the Financial Times reported on Wednesday,

citing people familiar with the matter.

The group also includes Peter Thiel's Founders Fund and

Palantir ( PLTR ) co-founder Joe Lonsdale, a major donor to U.S.

President Donald Trump's 2024 campaign, the report said.

Before a March 2023 liquidity crisis, SVB had long been a

major primary banking channel for early-stage technology firms

and venture capitalists - entities deemed too risky by

traditional banks. Many startups struggled to access capital and

meet immediate obligations such as payrolls after the bank

collapsed.

The proposed lender, called Erebor, has applied for a

national bank charter and plans to serve technology businesses

in areas such as artificial intelligence, crypto, defense and

manufacturing, as well as individuals who work at or invest in

them, according to its charter application.

The application for Erebor, to be headquartered in Columbus,

Ohio, outlines a digital-only model, with a secondary office in

New York.

According to the charter application, the bank will be led

by co-CEOs Owen Rapaport and Jacob Hirshman, a former adviser to

stablecoin company Circle.

Erebor is also planning to hold stablecoins on its balance

sheet. A crypto asset class pegged to currencies such as the

U.S. dollar, stablecoins are designed to hold a steady value

backed by reserves.

Fintechs and established financial institutions are

increasingly adopting stablecoins to accelerate cross-border

payments faster, simplify settlements and expand access to

digital financial services.

The bank aims to become "the most regulated entity

conducting and facilitating stablecoin transactions", according

to its charter application.

Luckey and Lonsdale are not expected to be involved in the

day-to-day management of the bank, the Financial Times report

said.

Luckey, Thiel, Lonsdale and a spokesperson for Erebor did

not immediately respond to Reuters request for comment.