Key takeaways
- Old Glory Bank plans XRP support after initial rollout
- Failed merger forces bank to seek alternative funding
- FDIC capital restrictions complicate proposed crypto banking expansion
Old Glory Bank is planning to introduce XRP transactions and cryptocurrency-to-dollar conversion services through its digital banking platform, but a failed merger and regulatory capital requirements have complicated the rollout.
The Oklahoma-based bank recently indicated that it is working toward an early 2027 launch after abandoning an earlier financing arrangement. Its plans would eventually allow customers to connect cryptocurrency wallets to bank accounts and convert eligible digital assets into US dollars.
However, the bank's official crypto FAQ identifies XRP and Bitcoin as later additions, with Ethereum, Polygon and PulseChain expected to receive initial support. No specific XRP launch date has been confirmed.
Old Glory Bank Plans XRP Transactions Through Ripple Rails
Old Glory Bank's proposed Next Gen Banking platform aims to combine conventional bank accounts with cryptocurrency services inside a single application.
Its planned Freedom Offramp would allow customers to transfer supported digital assets to a designated address, convert them into dollars and receive the proceeds directly in their bank accounts.
The bank also describes using Ripple rails for XRP transactions, although it has not disclosed a formal implementation agreement with Ripple or confirmed that XRP transfers are operational.
The distinction matters because institutional XRP payment integration can involve different technologies, intermediaries and settlement arrangements.
Old Glory additionally plans to introduce OGUSD, a dollar-backed stablecoin intended for transfers between conventional banking balances and blockchain networks.
These are separate functions: displaying a linked wallet balance does not mean an asset can already be exchanged, withdrawn or transferred through the banking platform.
Failed Merger Delays Crypto Banking Launch
Old Glory's original launch timetable depended on a merger with Digital Asset Acquisition Corp., announced in January 2026.
The transaction was expected to provide additional capital and support expansion of the bank's cryptocurrency operations.
However, an August 13 SEC filing confirms that both companies mutually terminated the business combination.
In a November 12 social media statement, Old Glory said the merger had been blocked by the Federal Reserve, which the bank believes was connected to its crypto plans. That explanation represents the bank's position; an independent regulatory finding establishing that motive was not identified.
The bank said it was seeking alternative financing before year-end and targeting the first quarter of 2027 for its product rollout.
Regulatory disclosures reveal an additional challenge.
An October filing states that Old Glory's leverage capital ratio fell to 2.69% as of June 30, prompting the FDIC to classify it as significantly undercapitalized.
The classification triggered restrictions on activities including asset growth and capital distributions.
What Would XRP Banking Support Mean for Adoption?
The proposed integration reflects growing interest in connecting blockchain payments with established financial institutions.
Ripple has expanded its own US banking infrastructure, while its RLUSD institutional services are designed to connect stablecoin issuance and redemption with existing financial systems.
Separately, previous XRPL banking pilots have demonstrated how tokenized assets and conventional bank payments can operate together.
However, bank adoption of blockchain infrastructure does not automatically create substantial demand for XRP.
