Crypto-friendly Old Glory Bank plans Nasdaq listing via SPAC

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

Michael Shaw said.

We are confident that, in the future, our customers will have the ability to easily move money on and off chain and instantly deposit crypto into their bank accounts.

He added.

The bank was originally founded more than a century ago as the First State Bank of Elmore City in Oklahoma.

Old Glory Holding Company acquired the bank in 2022 and rebranded it as Old Glory Bank.

The company said it aimed to offer digital-first banking solutions following the acquisition.

Other crypto firms are also moving into the banking sector amid easing regulatory barriers.

In December, the US Office of the Comptroller of the Currency conditionally approved several national bank charter applications tied to crypto companies.

Approved applicants included firms linked to Ripple Labs and Circle.

World Liberty Financial, a crypto firm associated with US President Donald Trump, also applied for a national trust banking charter last week.

The move is aimed at accelerating issuance, custody and conversion.

Zach Witkoff said.