Old Glory Bank, known for its supportive stance towards cryptocurrencies, is preparing to go public on the Nasdaq through a merger with Digital Asset Acquisition Corporation. This move will form a new Texas-based entity called OGB Financial Company, which plans to trade under the ticker symbol OGB. The merger is anticipated to be finalized by the end of the first quarter or early in the second quarter of 2026, pending necessary approvals from shareholders and regulators.
Michael Shaw, co-founder and Chief Innovation Officer of Old Glory Bank, expressed the institution's ambition to be the first chartered bank to seamlessly integrate cryptocurrency into everyday banking activities. Shaw highlighted the bank's vision for customers to effortlessly transition between on-chain and off-chain transactions, with a streamlined process for converting crypto to fiat using their proprietary OGB Freedom Offramp technology.
Old Glory Bank has its roots in the First State Bank of Elmore City, established over a century ago in Oklahoma. In 2022, Old Glory Holding Company acquired and rebranded the institution, promising to deliver 'digital-first' banking solutions.
This development comes amidst a broader trend of cryptocurrency companies moving into the banking sector. Notably, the U.S. Office of the Comptroller of the Currency granted conditional approval for national bank charters to five crypto-related entities, including Ripple Labs and Circle. Additionally, World Liberty Financial, linked to former U.S. President Donald Trump, recently applied for a national trust banking charter to enhance its stablecoin operations, according to CEO Zach Witkoff.
These moves reflect a growing intersection between traditional banking and the cryptocurrency industry, as companies seek to offer more integrated financial services.