News & Events zu Digital Asset Acquisition Corp (DAAQ)DAAQDigital Asset Acquisition Corp

Old Glory Bank and DAAQ Merge to Form OGB Financial Company

Old Glory Bank and Digital Asset Acquisition Corporation entered into a definitive business combination agreement to create OGB Financial Company, a Texas corporation to be listed on Nasdaq under the reserved ticker symbol "OGB." The closing of the transaction is expected to occur at the end of the first quarter or early in the second quarter of 2026 and is subject to approval by the shareholders of the parties and other customary closing conditions, including regulatory approval. DAAQ currently has $176M in its trust account, and Old Glory Bank's pre-money valuation will be $250M in this transaction. The parties intend to arrange a PIPE or other proceeds of at least $50M for closing. Old Glory Bank is a full-service, digital-first bank with over 80,000 personal and business accounts in all 50 states and several countries. Old Glory Bank has a physical branch in Elmore City, Oklahoma, and started serving customers with online accounts in April of 2023. It has since grown deposits more than 2,000% from $10M to over $245M as of December 31, 2025. "We intend for Old Glory Bank to be the first chartered bank to fully integrate crypto into daily banking. Today, it's too confusing, slow, and difficult for regular Americans to move money from a bank account to the blockchain. At Old Glory Bank, we are an actual bank, so we are confident that, in the future, our customers will have the ability to easily move money on and off chain, as well as instantly deposit crypto into their bank account, by exchanging crypto into fiat utilizing our patent-pending OGB Freedom Offramp," says Michael Staw, Co-Founder and Chief Innovation Officer of Old Glory Bank.