Old Glory Bank Moves Toward Nasdaq Listing via SPAC Deal

Old Glory Bank, a U.S. lender that has branded itself as crypto-friendly, plans to seek a public listing through a merger with Digital Asset Acquisition Corporation, a special purpose acquisition company. The transaction would result in a Texas-based holding company, OGB Financial Company, which is expected to trade on Nasdaq under the ticker symbol “OGB.”

In a joint statement released Tuesday, the companies said the deal is expected to close by the end of the first quarter or early in the second quarter of 2026, subject to regulatory approval and a shareholder vote. The financial terms of the merger were not disclosed.

The move comes as some crypto-aligned financial firms show renewed interest in public markets following several years of heightened regulatory scrutiny and market volatility. For Old Glory, a listing could provide additional capital and visibility as it works to expand the role of digital assets within its banking operations.

Old Glory’s management has said the bank aims to integrate crypto more directly into everyday banking rather than offering limited add-on 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.” He added that the bank envisions customers being able to move funds on and off blockchain networks and convert crypto into fiat held in their bank accounts using its patent-pending “OGB Freedom Offramp.”

Such a model would allow crypto deposits, conversions, and withdrawals to take place within a regulated banking framework, potentially reducing reliance on third-party exchanges.

Founded more than a century ago, Old Glory Bank began as the First State Bank of Elmore City in Oklahoma. It was acquired in 2022 by Old Glory Holding Company and subsequently rebranded, marking a shift away from its traditional community-banking roots. Since then, the bank has focused on attracting customers interested in digital assets, payments innovation, and alternatives to conventional banking infrastructure. The proposed SPAC merger suggests management views public markets as the next stage of that strategy.

The timing of the planned listing coincides with signs of a broader reopening of the U.S. banking system to crypto-linked firms. In December, the Office of the Comptroller of the Currency conditionally approved five national bank charter applications tied to the digital-asset sector, including those connected to Ripple Labs and Circle. More recently, World Liberty Financial, a crypto company associated with U.S. President Donald Trump and his family, applied for a national trust banking charter. Its chief executive, Zach Witkoff, said the application was intended to accelerate “issuance, custody, and conversion” related to stablecoin activities.

If completed, Old Glory’s Nasdaq debut would place it among a small group of publicly traded banks openly promoting crypto integration as a core part of their business. The outcome will depend on regulatory approvals and the bank’s ability to scale its technology and compliance systems while operating within existing U.S. banking rules.