Raising $250 million, deposits surge, crypto bank Old Glory is about to go public

Crypto-friendly bank Old Glory Bank announces merger with blank check company Digital Asset Acquisition Corp, with an expected NASDAQ listing in Q1 or early Q2 of 2026 under the ticker “OGB.” The deal values Old Glory Bank at $250 million, with $176 million in trust funds plus at least $50 million in additional financing, reflecting market recognition of crypto banks. Notably, Old Glory’s deposits reached $245 million by the end of 2025, a year-over-year increase of over 2000%, with remarkable growth.

From Traditional Bank to Crypto Pioneer

Rebranding Journey

Old Glory originated as a traditional bank in Oklahoma, USA, and transformed into a digital bank after a rebranding in 2022. This change is more than just a name update; it signifies a strategic shift—from serving traditional clients to embracing crypto assets and digital finance.

Aggressive Business Strategy

According to the latest news, Old Glory’s product plans are quite aggressive:

• Cryptocurrency loan products
• Crypto asset deposit services
• Crypto investment products
• Self-developed ERC-20 stablecoin OGBUSD

These are not just conceptual promises but concrete product roadmaps. The launch of OGBUSD stablecoin indicates Old Glory’s attempt to build a comprehensive crypto financial ecosystem.

Market Signals Behind the Data

Old Glory’s deposit growth data best illustrates the point. A 2000% increase is extremely rare in banking, indicating a large number of customers are optimistic about this bank’s crypto-friendly positioning. While the $245 million deposit size isn’t large, the rapid growth shows strong market demand.

Intersection of Crypto and Traditional Finance

This IPO signifies more than just a fundraising event. According to recent reports, Old Glory maintains close ties with political forces in the US, and this listing is seen as a further convergence of crypto finance and political influence. It reflects a broader trend: crypto assets are moving from the fringe toward mainstream acceptance, transforming from objects of regulatory concern to tools that can be integrated by legitimate financial institutions.

Key Areas to Watch Moving Forward

Stablecoin Compliance Path

The launch of OGBUSD is crucial. The US stablecoin regulatory framework is still evolving, and how Old Glory will introduce its own stablecoin within a compliant framework will be an important point to observe. This could serve as a reference for other institutions.

Feasibility of Crypto Loans

The rollout of crypto loan products involves complex risk management and compliance issues. As a chartered bank, Old Glory has compliance advantages, but how effectively these products will be implemented remains to be seen over time.

Valuation Trajectory Post-Listing

From a pre-money valuation of $250 million to a NASDAQ listing, how will the public market price this crypto bank? This will serve as a barometer for market recognition of crypto financial institutions’ value.

Summary

Old Glory’s listing marks a new phase in crypto finance development. From a traditional bank rebranding, to 2000% deposit growth, to a $250 million valuation and NASDAQ listing, this path demonstrates that the market is willing to pay for crypto-friendly financial institutions. The key questions are no longer “Can crypto banks survive?” but rather “Can these banks truly integrate crypto assets into traditional banking operations?” Moving forward, the most important areas to watch are product implementation, stablecoin compliance, and actual performance after listing.