Old Glory Bank, a lender positioning itself as crypto-friendly, has announced plans to go public on the Nasdaq exchange through a merger with a Special Purpose Acquisition Company (SPAC). The bank will merge with Digital Asset Acquisition Corporation to form a Texas-based holding company named OGB Financial Company, expected to trade under the ticker symbol "OGB".
The transaction is scheduled to close "at the end of the first quarter or early in the second quarter of 2026," pending regulatory and shareholder approvals. Financial terms of the deal were not disclosed.
The bank's leadership has articulated a bold vision for integrating digital assets into traditional banking. Michael Shaw, co-founder and Chief Innovation Officer of Old Glory Bank, stated the goal is for Old Glory to become "the first chartered bank to fully integrate crypto into daily banking." He elaborated that future customers would "easily move money on and off chain, as well as instantly deposit crypto into their bank account, by exchanging crypto into fiat utilizing our patent-pending OGB Freedom Offramp."
This model aims to place crypto conversions, deposits, and withdrawals within a regulated banking framework, reducing reliance on third-party exchanges.
Old Glory Bank has a century-old history, originating as the First State Bank of Elmore City in Oklahoma. It was acquired in 2022 by Old Glory Holding Company and rebranded with a focus on digital-first banking solutions, marking a significant shift from its community-banking origins.
The announcement aligns with a broader trend of regulatory openness toward crypto-aligned financial institutions in the United States. In December, the Office of the Comptroller of the Currency (OCC) conditionally approved five national bank charter applications for companies tied to the crypto industry, including Ripple Labs and Circle. More recently, World Liberty Financial, a crypto company associated with former U.S. President Donald Trump and his family, filed for a national trust banking charter to accelerate stablecoin-related activities.
This SPAC merger represents a renewed interest among crypto-focused firms in accessing public markets after a period of regulatory pressure and volatility. If successful, Old Glory would become one of the few publicly traded U.S. banks marketing deep crypto integration as a core feature, testing the viability of blending digital assets with regulated banking at scale.
