A crypto-focused banking firm is preparing to enter public markets with a plan to embed blockchain services directly into everyday banking.
Old Glory Bank confirmed a business combination agreement with Digital Asset Acquisition Corporation on January 16 to pursue a Nasdaq listing.
The deal will merge Old Glory Bank’s holding company with the SPAC to form OGB Financial Company, a Texas-based corporation.
The combined entity is expected to trade on Nasdaq under the reserved ticker symbol OGB once the transaction is completed.
The merger positions Old Glory Bank as a challenger to traditional banks that have been slow to adopt crypto services.
The agreement reflects growing investor interest in regulated institutions that bridge traditional finance and digital assets.
We intend for Old Glory Bank to be the first chartered bank to fully integrate crypto into daily banking.
Michael Staw said.
Today, it’s too confusing, slow, and difficult for regular Americans to move money from a bank account to the blockchain.