Professional-American digital banks are racing towards the Nasdaq with bold plans to mix conventional banking with cryptocurrencies, promising sooner blockchain entry, new lending choices, and a way forward for stablecoin-powered funds with a high-profile SPAC merger.
Wall Avenue fears banking disruption: Outdated glory challenges conventional giants by concentrating on on a regular basis crypto utilization
A brand new public firm centered on banking and cryptocurrencies is taking form by a particular function acquisition transaction. Professional-American digital lender Outdated Glory Financial institution and Digital Asset Acquisition Company (NASDAQ: DAAQ) introduced on January 16 that they’ve entered right into a enterprise mixture settlement centered on cryptocurrency built-in banking and public market entry.
The settlement outlines the merger of Outdated Glory Financial institution's financial institution holding firm and Digital Asset Acquisition Company to type OGB Monetary Firm, a Texas company that shall be listed on Nasdaq beneath the reserved ticker image “OGB.” Michael Storr, co-founder and chief innovation officer of Outdated Glory Financial institution, mentioned:
“We goal for Outdated Glory Financial institution to be the primary chartered financial institution to completely combine cryptocurrencies into on a regular basis banking operations.”
“Presently, it’s too complicated, sluggish, and troublesome for odd People to maneuver funds from their financial institution accounts to the blockchain,” the manager added. “At Outdated Glory Financial institution, we’re a bodily financial institution, so we’re assured that sooner or later, by leveraging our patent-pending OGB Freedom Off-Ramp to alternate cryptocurrencies for fiat, our prospects is not going to solely be capable of simply transfer cash on-chain and off-chain, but in addition immediately deposit cryptocurrencies into their financial institution accounts.”
The transaction is predicted to shut close to the tip of the primary quarter or early within the second quarter of 2026, topic to stockholder approval and customary regulatory situations. DAAQ has roughly $176 million in belief accounts, whereas Outdated Glory Financial institution has a pre-money valuation of $250 million, and the events count on to safe at the very least $50 million in further PIPE or associated financing.
Outdated Glory Financial institution operates as a full-service, digital-first, FDIC-insured monetary establishment with a bodily department workplace in Elmore Metropolis, Oklahoma, and greater than 80,000 private and enterprise accounts in all 50 states and a number of other international locations. Since launching on-line banking in April 2023, the financial institution has grown deposits from $10 million to greater than $245 million as of December 31, 2025. Leaders resembling Dr. Ben Carson, Larry Elder, Sean Spicer, John Wealthy, and Invoice Shine have emphasised opposition to financial institution abolishment and continued assist for industries resembling cryptocurrencies, firearms, oil and fuel, and agriculture.
Detailing further product plans associated to blockchain integration, Staw defined:
“Outdated Glory Financial institution intends to supply fast and straightforward self-service crypto loans to our valued prospects who don’t wish to promote their crypto, don’t wish to obtain a 1099-DA, and are probably taxable.”
“Once more, as a result of we’re a financial institution and have the bottom value of funds within the trade, we’re in a position to make client cryptocurrency loans in all 50 states with truthful rates of interest and no rubbish charges,” he clarified. “We don’t intend to cease there, and Outdated Glory Financial institution intends to challenge its personal fee stablecoin, OGBUSD, based mostly on the ERC-20 customary, permitting our freedom-loving prospects to make funds immediately and securely on numerous blockchains world wide,” the manager continued.
