BlockBeats news: On January 13, according to Bloomberg, crypto-friendly bank Old Glory Bank announced it will go public through a merger with the blank-check company Digital Asset Acquisition Corp.
Old Glory originated in Oklahoma, U.S., as a traditional banking institution and completed a brand transformation in 2022, transitioning into a digital bank. The bank stated that it plans to fully integrate cryptocurrencies into its loan, deposit, and investment product systems in the future.
Reports indicate that Old Glory has close ties with several right-wing political figures in the United States, and this IPO is also seen as a landmark event marking the further convergence of cryptocurrency finance and political power.