Old Glory Bank pushes for Nasdaq listing via SPAC

JH Kim

Summary

Old Glory Bank, a US virtual-asset-friendly bank, said it is pursuing a Nasdaq listing through a SPAC merger.
Old Glory Bank said it plans to merge with Digital Asset Acquisition Corp, rename the company OGB Financial, and change the ticker to OGB.
The SPAC merger was assessed as an example showing that institutional capital markets’ interest in virtual-asset financial infrastructure in the US is rising again.

Forecast Trend Report by Period

Old Glory Bank, a US bank friendly to virtual assets (cryptocurrencies), is seeking a Nasdaq listing through a merger with a special purpose acquisition company (SPAC).

According to Bloomberg on the 13th (local time), Old Glory Bank agreed to merge with Digital Asset Acquisition Corp, and upon completion of the listing the company will be renamed OGB Financial and the ticker will be OGB.

Old Glory Bank began as an Oklahoma-based community bank and, in 2022, shifted its business model to become a virtual-asset-friendly bank with virtual-asset firms and individuals as its main clients. Since then, it has focused on deposit, payments and financial services for virtual-asset companies.

The SPAC merger is seen as an example showing that institutional capital markets’ interest in virtual-asset financial infrastructure in the US is rising again.