Daily Crypto Banking Is Coming: Old Glory Targets Full Integration Inside a Chartered US Bank

Source: CryptoNewsNet Original Title: Daily Crypto Banking Is Coming: Old Glory Targets Full Integration Inside a Chartered US Bank Original Link: https://cryptonews.net/news/finance/32294641/ A new banking and crypto-focused public company is taking shape through a special purpose acquisition transaction. Old Glory Bank and Digital Asset Acquisition Corporation (Nasdaq: DAAQ) announced that they entered a business combination agreement focused on crypto-integrated banking and public markets access.

The agreement outlines a merger between Old Glory Bank’s bank holding company and Digital Asset Acquisition Corp. to form OGB Financial Company, a Texas corporation expected to list on Nasdaq under the ticker symbol “OGB.” Michael Staw, co-founder and chief innovation officer of Old Glory Bank, stated:

“We intend for Old Glory Bank to be the first chartered bank to fully integrate crypto into daily banking.”

“Today, it’s too confusing, slow, and difficult for regular Americans to move money from a bank account to the blockchain,” the executive added. “At Old Glory Bank, we are an actual bank, so 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.”

Transaction Details

The transaction is expected to close near the end of the first quarter or early in the second quarter of 2026, subject to shareholder approval and customary regulatory conditions. DAAQ holds approximately $176 million in its trust account while Old Glory Bank carries a $250 million pre-money valuation, with the parties planning to secure at least $50 million in additional PIPE or related financing.

Current Operations

Old Glory Bank operates as a full-service, digital-first, FDIC-insured institution with more than 80,000 personal and business accounts across all 50 states and several countries, alongside a physical branch in Elmore City, Oklahoma. Since launching online banking in April 2023, the bank expanded deposits from $10 million to more than $245 million as of December 31, 2025.

Future Product Plans

Detailing additional product plans tied to blockchain integration, Staw explained:

“Old Glory Bank intends to offer fast and easy self-service crypto loans for our customers who do not want to sell crypto and face potential tax implications.”

“Because we are a bank with one of the lowest costs of funds in the industry, we will be able to make consumer crypto loans in all 50 states, with fair interest rates and no excessive fees,” he clarified.

The executive continued: “Old Glory Bank intends to issue its own payment stablecoin, OGBUSD, on the ERC-20 standard so that customers will have the ability to make payments around the world instantly and securely on various blockchains.”