🏦 Old Glory Bank to Go Public in $250M SPAC Deal
U.S.-based Old Glory Bank, known for its crypto-friendly banking services, is set to go public via a SPAC merger with Digital Asset Acquisition Corp., valuing the company at $250 million, according to PANews.The deal includes $176 million from SPAC funds and at least $50 million in private investment. After completion, the bank plans to list on Nasdaq under the ticker “OGB.”
Old Glory aims to integrate crypto assets directly into traditional banking services, positioning itself as a bridge between digital assets and regulated finance.
This move highlights the growing trend of crypto–TradFi convergence, as more institutions move to offer crypto-native financial services within the U.S. banking system.