Glory Bank has revealed its intention to merge with Digital Asset Acquisition Corporation, creating a new entity named OGB Financial Company. This merger marks a significant step for Glory Bank, as it aims to become publicly listed on Nasdaq under the ticker symbol OGB. The completion of this transaction is projected for late in the first quarter or early in the second quarter of 2026, pending necessary shareholder and regulatory approvals.
The announcement was made through a joint statement from both entities, outlining their plans to establish a Texas-based holding company focused on integrating cryptocurrency into traditional banking. Michael Shaw, co-founder and chief innovation officer of Glory Bank, emphasized the bank”s ambition by stating, “We intend for Old Glory Bank to be the first chartered bank to fully integrate crypto into daily banking.” This integration is expected to facilitate seamless interactions between digital and fiat currencies.
As part of its vision, Glory Bank aims to introduce the OGB Freedom Offramp, a system designed to enable instant conversions between crypto and fiat currencies for direct account deposits. This initiative represents a strategic movement towards bridging the gap between the cryptocurrency and traditional banking sectors.
Founded over a century ago as the First State Bank of Elmore City in Oklahoma, Glory Bank rebranded in 2022 following its acquisition by Old Glory Holding Company. Since then, the bank has shifted its focus towards providing digital-first banking services, facilitating greater access to cryptocurrency-related tools for its customers.
The merger with Digital Asset Acquisition Corporation comes at a time when regulatory momentum is growing in the crypto banking space. In December, the Office of the Comptroller of the Currency approved several charter applications for crypto-related financial institutions, signaling a shift in regulatory attitudes toward the integration of blockchain technology within traditional banking frameworks. This backdrop supports Glory Bank”s efforts to align its services with the evolving landscape of finance.
As the merger proceeds, both Glory Bank and Digital Asset Acquisition Corporation have expressed confidence in their timeline and commitment to enhancing their respective offerings in the banking and cryptocurrency sectors. Further updates are anticipated as they move closer to finalizing the merger.
