Old Glory Bank to Launch NextGen Platform in 2027
The Oklahoma bank plans a crypto-linked banking service after a proposed merger failed to provide the financing it needed.
Updated on Nov. 12, 2026 in Banking
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Old Glory Bank, an Oklahoma institution with $280 million in total assets, plans to launch its NextGen banking platform in the first quarter of 2027. The rollout follows a proposed merger that failed to deliver the financing needed for the crypto-linked service.
Why it matters
The plan would link bank accounts with self-custodial crypto wallets, including MetaMask, and offer a bank-issued stablecoin backed by cash and short-term U.S. Treasuries. CEO Mike Ring said regulatory uncertainty over approval had discouraged investors, and the bank expects to obtain replacement capital by year-end.
Old Glory Bank reports $280 million in total assets, $20 million in loans and about 90% liquidity, while its consent order requires a 14% Tier 1 leverage capital ratio. The amount of replacement capital the bank will secure by year-end and whether regulators will clear the NextGen launch have not been disclosed.
The players
Old Glory Bank
An Oklahoma bank operating under an FDIC and Oklahoma State Banking Department consent order, now pursuing a crypto-linked banking platform.
Mike Ring
The chief executive of Old Glory Bank, who argued that regulatory uncertainty over approval discouraged investors from keeping money in the transaction.
The details
The NextGen platform would let customers exchange dollars for a bank-issued stablecoin and use the Freedom Offramp service to convert accepted digital assets into dollars deposited in their accounts. The initial launch will support HBAR and XDC, and the bank has been responding to Federal Reserve questions about voting results, redemptions, trust funds and projected capital ratios.
Timeline
May 1, 2024: Old Glory Bank agreed to an FDIC and Oklahoma State Banking Department consent order without admitting or denying violations.
July 2026: Shareholder redemption and voting deadlines for the proposed merger.
August 2026: CEO Mike Ring wrote to the Federal Reserve.
Nov. 12, 2026: Old Glory Bank posted on X defending its financial position.
First quarter of 2027: Planned launch of the NextGen banking platform.
Regulatory Context
Old Glory Bank is pursuing its crypto-linked NextGen plan while still operating under the FDIC and Oklahoma State Banking Department consent order signed May 1, 2024, which requires a 14% Tier 1 leverage ratio. The bank's ability to launch depends on both raising replacement capital and satisfying that oversight framework.
If the NextGen platform launches as planned, Oklahoma depositors could move funds between traditional bank accounts and self-custodial crypto wallets through a single institution. The bank's ongoing consent order and unfinished capital raise mean the service's availability and timing remain uncertain for account holders.
The takeaway
Banks pursuing crypto services must reconcile fast product timelines with capital and regulatory requirements, which can delay launches well beyond initial plans. Readers tracking the sector should watch for the capital raise and regulatory response before assuming the NextGen rollout will proceed on schedule.
What happens next
Old Glory Bank expects to obtain replacement capital by year-end and plans to launch its NextGen banking platform in the first quarter of 2027.
Further reading
For more on how digital assets are reshaping deposit services, see Banking.
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