Digital-first bank Old Glory merges with Digital Asset Acquisition Corporation, with the listing expected to be completed by the end of the first quarter or early second quarter of 2026.
The U.S. financial market is preparing to welcome another bank institution deeply integrating digital assets as Old Glory Bank announces plans to list on the Nasdaq exchange through a merger with the special purpose acquisition company Digital Asset Acquisition Corporation. This move marks a new step in the trend of convergence between traditional banking and digital assets.
In a statement on Tuesday, both parties announced their intention to establish OGB Financial Company based in Texas as part of the plan to take the company public with the trading code OGB. The deal is expected to be completed by the end of the first quarter or the beginning of the second quarter of 2026, depending on the approval of regulators and shareholders.
Integrating cryptocurrency assets into daily operations
Co-founder and Chief Innovation Officer Michael Shaw emphasized the ambition to make Old Glory Bank the first fully licensed bank to integrate cryptocurrency assets into daily banking operations. Shaw stated that the company believes that in the future, customers will be able to easily transfer money on-chain and withdraw it off-chain, while also instantly depositing cryptocurrency assets into their bank accounts by converting them to fiat through the OGB Freedom Offramp solution that is in the process of being patented.
Old Glory Bank has a history spanning over a century when it was established as First State Bank of Elmore City in Oklahoma. Old Glory Holding Company acquired this bank in 2022 and renamed the entities after the merger to Old Glory Bank, focusing on providing digital-first banking solutions.
The moves of Old Glory Bank take place in the context of an increasing number of cryptocurrency asset companies expanding into traditional banking. In December, the U.S. Office of the Comptroller of the Currency conditionally approved five applications for national bank charters from companies related to the cryptocurrency asset industry, including Ripple Labs and Circle. This is a signal indicating the regulatory agency's more open attitude towards the integration of the two sectors.
Another notable move comes from World Liberty Financial, a cryptocurrency asset company associated with President Donald Trump and his family, which filed for a national trust bank charter last week. CEO Zach Witkoff stated that this step aims to accelerate issuance, custody, and conversion activities for the company's stablecoin, reflecting a similar strategy in connecting banking services with digital asset infrastructure.
