Old Glory Bank Targets Nasdaq Listing Through SPAC Merger
What Is Old Glory Bank Planning?
Old Glory Bank, a lender that has positioned itself as crypto-friendly, plans to go public through a merger with Digital Asset Acquisition Corporation, a special purpose acquisition company. The transaction would create a Texas-based holding company named OGB Financial Company, which is expected to trade on Nasdaq under the ticker symbol OGB.
In a joint statement released Tuesday, the two firms said the deal is expected to close at the end of the first quarter or ahead in the second quarter of 2026, subject to regulatory approval and a shareholder vote. Financial terms of the transaction were not disclosed.
The merger reflects renewed interest among crypto-aligned financial firms in accessing public markets later than several years of regulatory . For Old Glory, the listing would provide capital and visibility as it viewks to embed more deeply into traditional banking services.
Investor Takeaway
How Does Old Glory Plan to Integrate Crypto Into Banking?
Old Glory’s leadership says the bank is working toward full integration of crypto into everyday banking operations rather than offering limited or peripheral services. Michael Shaw, the bank’s co-founder and chief innovation officer, said the goal is for Old Glory to become “the first chartered bank to fully integrate crypto into daily banking.”
“We are confident that, in the future, our customers will have the ability to 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,” Shaw said.
The planned offering suggests a model where customers can directly into fiat balances held at the bank, reducing reliance on third-party platforms. Such a setup would place crypto conversions, deposits, and withdrawals inside a regulated banking framework rather than on standalone platforms.
From Small-Town Bank to Crypto-Focused Lender
Old Glory Bank traces its roots back more than a century. It began as the First State Bank of Elmore City in Oklahoma before being acquired in 2022 by Old Glory Holding Company. Following the acquisition, the combined entity was rebranded as Old Glory Bank, with management outlining plans to deliver digital-first banking services.
The shift marked a clear break from the bank’s traditional community-banking origins. Since the rebrand, Old Glory has focused on attracting customers , payments innovation, and alternatives to conventional banking rails. The proposed SPAC merger signals that strategy has reached a stage where management views public markets as the next step.
Investor Takeaway
Why Is This Happening Now?
The timing of Old Glory’s move aligns with a broader reopening of the banking system to crypto-linked firms. In December, the conditionally approved five national bank charter applications tied to the digital-asset sector, including applications connected to Ripple Labs and Circle.
More recently, World Liberty Financial, a crypto company associated with U.S. and his family, filed for a national trust banking charter. Its chief executive, Zach Witkoff, said the application was intended to speed up “issuance, custody, and conversion” related to the firm’s stablecoin activities.
These developments suggest regulators are again willing to consider crypto-native or crypto-aligned institutions, provided they operate within existing banking rules. For firms like Old Glory, this shift reduces the risk that crypto integration alone could block access to charters, payments infrastructure, or public listings.
What Does This Mean for Crypto and Banking?
Old Glory’s proposed Nasdaq listing underscores how the line between banks and crypto platforms continues to blur. Rather than crypto firms building bank-like services from the outside, some banks are now reshaping themselves to handle digital assets directly.
If the merger closes as planned, Old Glory would become one of the few publicly integration as a core feature. The challenge will be execution: converting regulatory approval, customer demand, and technical infrastructure into a model that works at scale without triggering supervisory pushback.
For the wider industry, the deal adds to a growing set of experiments testing whether crypto can move from the edges of finance into the regulated banking core. Old Glory’s public-market debut, if successful, would offer a new data point on whether that integration can hold under investor and .
