Old Glory Bank Issues Yet Another Clarification on XRP

Old Glory Bank has provided further details regarding how users will manage XRP on its forthcoming Next-Gen platform. In a public reply to a user inquiring about its custody model, the institution elaborated on its overall strategy for digital asset storage.

The statement also clarified XRP’s position within the platform’s framework and outlined what users can anticipate when it launches.

Self-Custody Is the Starting Point

Addressing a user’s questions concerning custody and yield, Old Glory Bank noted that “the XRP ledger (XRPL) is a public, open-source blockchain and customers can absolutely hold their own keys in their own self-custodial wallet, both cold and hot.”

Custody will not be provided by the bank at launch. The institution noted it has been “the first company to talk about how a self-custodial wallet is the safest way to hold digital assets,” pointing to breaches at Binance and Drift Protocol as examples.

Those security events occurred because users stored funds within the respective organizations’ custodial wallets. Old Glory Bank is designing its system to steer clear of that specific framework.

We humbly disagree. The XRP ledger (XRPL) is a public, open-source blockchain and customers can absolutely hold their own keys in their own self-custodial wallet – both cold and hot. At launch, we are not offering custody. We have been the first company to talk about how a…

— Old Glory Bank (@OldGloryBank) November 13, 2026

A Custodial Option is Coming Later

The financial institution verified that a custodial wallet option is scheduled for release in Q3 2027. Until that time, it strongly advises users to keep digital assets in their own self-custodial wallet, with a preference for cold storage.

Users will subsequently connect that wallet to the Next-Gen application to transfer fiat currency on and off the blockchain. XRP is positioned centrally in that workflow, with Ripple Rails verified as the underlying infrastructure for XRP transactions on the service.

XRP Confirmation and the Capital Raise

Reports verified that the bank’s website indicated it utilizes Ripple Rails for XRP transactions. XRP is slated for a secondary phase rollout that comes after the initial crypto release, with the bank’s FAQ acting as the main source confirming the XRPL integration.

The bank also answered critics who raised doubts about its financial stability. Old Glory Bank reported holding $280 million in assets against just $20 million in loans, characterizing its position as roughly 90% liquid. Furthermore, the bank verified that one final capital raise is planned prior to the debut of Next-Gen banking.

That liquidity status was linked directly to the institution’s stated objective of facilitating the shift from fiat currency to the blockchain. Old Glory Bank outlined a distinct timeline: self-custody initially, followed by a capital raise, then the Next-Gen platform debut featuring XRP integration powered by Ripple Rails, and finally the introduction of the custodial option in 2027.

Frequently Asked Questions

Will Old Glory Bank offer custody for XRP at launch?

No. At launch, Old Glory Bank will not offer custody. Instead, customers will hold their own keys in their own self-custodial wallets—both hot and cold.

When will a custodial wallet option become available?

The bank has confirmed that a custodial wallet option is planned for Q3 2027.

What infrastructure does the bank use for XRP transactions?

Ripple Rails has been confirmed as the infrastructure used for XRP transactions on the Next-Gen platform.

What is Old Glory Bank’s current financial position?

The bank reported having $280 million in assets and only $20 million in loans, describing itself as approximately 90% liquid.