Old Glory Bank Ties NextGen Launch to Another Capital Transaction

Old Glory Bank said it plans another large capital transaction before launching its NextGen banking platform, while its latest blockchain post made no mention of XRP or the XRP Ledger (XRPL).

In a Nov. 12 post on X, the bank said it had $280 million in assets and $20 million in loans, and described itself as about 90% liquid. It said its assets were held in floating agency bonds, calling them “the best asset class in the industry.”

“This is why we support the move from fiat to the blockchain,” the bank wrote. It added that it did not currently have enough liquidity to move from fiat to digital and planned one more large capital transaction before the NextGen launch to support expected growth.

Crypto researcher SMQKE had linked the bank’s retail onboarding plans with XRPL in a separate X discussion. The bank’s reply addressed its finances and blockchain plans but did not identify XRP or XRPL as part of the plan.