Crypto-friendly bank to list on NASDAQ, raising $226 million to usher in a new era of compliance

【Chain Wen】Another cryptocurrency-related institution has officially joined the compliance army. A digital asset-focused lending bank is about to go public on NASDAQ through a merger with a special purpose acquisition company (SPAC), with a considerable transaction size.

According to the latest reports from financial media, the total funds involved in this deal amount to $226 million — with $176 million injected by the SPAC as the main support, and at least $50 million in private investments following. After the transaction is completed, the valuation of this institution will be set at $250 million. The new company listed will be called OGB Financial Co., with the stock ticker OGB.

The story of this bank is worth paying attention to. It is rooted in Oklahoma, originally a traditional financial institution, but in 2022, it underwent a strategic shift — fully embracing the cryptocurrency ecosystem. Since then, it has begun integrating digital assets into lending, deposits, and investment products, creating a financial service system that is more aligned with Web3 users.

This is not an isolated case. The entire cryptocurrency industry is accelerating towards a regulatory framework. More and more Web3 companies are choosing to apply for trust licenses to achieve compliance. Last month, five crypto companies, including a well-known stablecoin firm and a cross-chain payment solution provider, received conditional approval from U.S. banking regulators for trust license applications. These series of developments indicate that cryptocurrencies are gradually transitioning from the gray area into a regulated financial system, and the industry is entering a moment of structural normalization.