Key Takeaways:
- VCI Global to purchase $100M in OOB tokens from Tether-backed Oobit.
- Tether will become VCI Global’s largest shareholder.
- New digital treasury division and AI-fintech integration planned.
- Oobit token migrates to Solana; official launch on November 12.
VCI Global’s Strategic Crypto Move
Malaysia-based technology consulting firm VCI Global has announced plans to acquire $100 million worth of OOB tokens, marking a major step into the crypto payments sector. The acquisition is part of the company’s strategy to expand its digital finance footprint and integrate blockchain assets into its fintech and AI platforms.
VCI Global has already secured $50 million through a restricted share issuance to the OOB Foundation and intends to purchase an additional $50 million on the secondary market once the token goes public. This structured approach signals a carefully managed entry into the fast-growing digital asset space.
Tether Becomes Largest Shareholder
As part of the transaction, Tether, the world’s leading stablecoin issuer, will become VCI Global’s largest shareholder. Moshe Schisser, Chairman of Oobit, described the deal as “more than a digital-asset deal,” highlighting its potential to enhance the real-world utility and growth of the Oobit ecosystem.
Also Read: What Is Tether (USDT)? The Most Popular Yet Controversial Stablecoin Explained
Following the acquisition, VCI Global will establish a digital treasury division to manage crypto holdings and incorporate OOB tokens into its sovereign data, fintech, and AI platforms. This strategic expansion underlines the company’s long-term commitment to digital finance despite recent stock volatility.
Oobit Token Rebrand and Platform Launch
Oobit is in the final stages of rebranding its token from OBT to OOB and migrating from Ethereum to Solana, with an official launch scheduled for November 12. The token will power Oobit’s tap-to-pay crypto payment platform, enabling users to spend digital assets at merchant point-of-sale systems.
Oobit’s investors include Tether, Solana co-founder Anatoly Yakovenko, CMCC Global, and 468 Capital, reflecting strong backing from leading blockchain stakeholders.
Also Read; Solana Baby Name Trend 2025: From Crypto to Cribs, Here’s Why It’s So Popular
Malaysia’s Regulatory Environment
The acquisition aligns with Malaysia’s broader crypto modernization efforts. The Securities Commission (SC) recently proposed reforms to accelerate token listings, strengthen governance, and enhance investor protection. These reforms aim to streamline the growth of the digital asset ecosystem while ensuring compliance and market stability.
Conclusion
VCI Global’s $100 million OOB token acquisition underscores the growing convergence of traditional finance and crypto innovation in Malaysia. With Tether’s partnership and a new digital treasury division, the company is positioning itself to lead in the crypto payments sector, offering investors and users a practical bridge between digital assets and real-world applications.
