Key Points

• Old Glory Bank plans to support XRP after its initial launch.
• A failed merger and acquisition forced the bank to seek alternative financing.
• The capital restrictions of FDIC complicate the expansion of the proposed crypto bank.

Old Glory Bank, headquartered in Oklahoma, plans to launch XRP trading and cryptocurrency-to-US dollar conversion services through its digital banking platform. However, a failed merger and regulatory capital requirements have complicated this launch plan.

This line recently indicates that, after abandoning the previous financing arrangements, they are moving forward towards the goal of launching by early 2027. According to their plan, customers will ultimately be able to connect their cryptocurrency wallets to bank accounts and convert eligible digital assets into US dollars.

However, on the official encryption FAQ page, XRP and Bitcoin are listed as assets that will be added later, while Ethereum, Polygon, and PulseChain are expected to receive support first. The specific launch date for XRP has not yet been confirmed.

Old Glory Bank plans to process XRP transactions through Ripple and rails.

The Next Gen Banking platform, which is planned to be launched by Old Glory Bank, aims to integrate traditional bank accounts with cryptocurrency services into a single application.

The Freedom Offramp in their plan will allow customers to transfer supported digital assets to a designated address, exchange them for US dollars, and deposit the resulting funds directly into their bank accounts.

It is also stated in this line that Ripple and rails will be used to process the XRP transaction, however, no formal implementation agreement with Ripple has been disclosed, nor has it been confirmed that the XRP transfer has been put into operation.

This distinction is very important, as institutional-level XRP payment integration may involve different technologies, intermediary institutions, and settlement arrangements.

Old Glory also plans to launch OGUSD, which is a stablecoin backed by the US dollar and designed for transfers between traditional bank balances and blockchain networks.

These functions are independent of each other: displaying the balance of associated wallets does not mean that a certain asset can be exchanged, withdrawn, or transferred through the banking platform.

Failed merger and acquisition delays the launch of encrypted banking services

Old Glory The initial launch schedule depended on the merger with Digital Asset Acquisition Corp. This transaction was announced in January 2026.

It was anticipated at that time that this transaction would provide additional capital and support the expansion of the bank's cryptocurrency business.

However, a document submitted to the U.S. Securities and Exchange Commission (SEC) on August 13 confirmed that both parties have jointly terminated this business merger.

In a social media statement on November 12, Old Glory stated that this merger was blocked by the Federal Reserve, and the bank believes that this is related to its cryptocurrency plans. The above statement represents the bank's position; however, the text does not mention any independent regulatory findings to confirm this motive.

This line indicates that they are seeking alternative financing before the end of the year, and have set the goal of launching the product in the first quarter of 2027.

Regulatory disclosures also reveal another challenge.

A document from October states that as of June 30, the leverage capital ratio of Old Glory had dropped to 2.69%, hence FDIC classified it as having severely insufficient capital.

This classification triggered restrictions on activities, including asset growth and capital allocation.

What does it mean for banking business support to adopt XRP?

The proposed integration reflects the growing interest in connecting blockchain payments with established financial institutions.

Ripple has expanded its banking infrastructure in the United States, while its RLUSD institutional services aim to connect the issuance and redemption of stablecoins with the existing financial system.

In addition, the previous XRPL banking business pilot has demonstrated how tokenized assets can work in conjunction with traditional bank payments.

However, the adoption of blockchain infrastructure by banks does not automatically lead to a high demand for XRP.