Key takeaways
- Old Glory Bank plans XRP help after preliminary rollout
- Failed merger forces financial institution to hunt different funding
- FDIC capital restrictions complicate proposed crypto banking growth
Old Glory Bank is planning to introduce XRP transactions and cryptocurrency-to-dollar conversion providers via its digital banking platform, however a failed merger and regulatory capital necessities have difficult the rollout.
The Oklahoma-based financial institution just lately indicated that it’s working towards an early 2027 launch after abandoning an earlier financing association. Its plans would ultimately enable prospects to attach cryptocurrency wallets to financial institution accounts and convert eligible digital belongings into US {dollars}.
Nevertheless, the financial institution’s official crypto FAQ identifies XRP and Bitcoin as later additions, with Ethereum, Polygon and PulseChain anticipated to obtain preliminary help. No particular XRP launch date has been confirmed.
Old Glory Bank Plans XRP Transactions By Ripple Rails
Old Glory Bank’s proposed Subsequent Gen Banking platform goals to mix standard financial institution accounts with cryptocurrency providers inside a single software.
Its deliberate Freedom Offramp would enable prospects to switch supported digital belongings to a delegated tackle, convert them into {dollars} and obtain the proceeds immediately of their financial institution accounts.
The financial institution additionally describes utilizing Ripple rails for XRP transactions, though it has not disclosed a proper implementation settlement with Ripple or confirmed that XRP transfers are operational.
The excellence issues as a result of institutional XRP payment integration can contain completely different applied sciences, intermediaries and settlement preparations.
Old Glory moreover plans to introduce OGUSD, a dollar-backed stablecoin supposed for transfers between standard banking balances and blockchain networks.
These are separate capabilities: displaying a linked pockets stability doesn’t imply an asset can already be exchanged, withdrawn or transferred via the banking platform.
Failed Merger Delays Crypto Banking Launch
Old Glory’s unique launch timetable relied on a merger with Digital Asset Acquisition Corp., introduced in January 2026.
The transaction was anticipated to supply extra capital and help growth of the financial institution’s cryptocurrency operations.
Nevertheless, an August 13 SEC filing confirms that each firms mutually terminated the enterprise mixture.
In a November 12 social media assertion, Old Glory stated the merger had been blocked by the Federal Reserve, which the financial institution believes was linked to its crypto plans. That clarification represents the financial institution’s place; an impartial regulatory discovering establishing that motive was not recognized.
The financial institution stated it was searching for different financing earlier than year-end and concentrating on the primary quarter of 2027 for its product rollout.
Regulatory disclosures reveal a further problem.
An October submitting states that Old Glory’s leverage capital ratio fell to 2.69% as of June 30, prompting the FDIC to categorise it as considerably undercapitalized.
The classification triggered restrictions on actions together with asset progress and capital distributions.
What Would XRP Banking Help Imply for Adoption?
The proposed integration displays rising curiosity in connecting blockchain funds with established monetary establishments.
Ripple has expanded its personal US banking infrastructure, whereas its RLUSD institutional services are designed to attach stablecoin issuance and redemption with current monetary programs.
Individually, earlier XRPL banking pilots have demonstrated how tokenized belongings and traditional financial institution funds can function collectively.
Nevertheless, bank adoption of blockchain infrastructure doesn’t mechanically create substantial demand for XRP.
