VCI Global to Acquire $100M in OOB Tokens — Tether Becomes Largest Shareholder

Andrew Chen
Tether (USDT)

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  • VCI Global will acquire $100M in OOB tokens to expand its fintech and AI initiatives.
  • Tether becomes VCI Global’s largest shareholder through the transaction.
  • Oobit rebrands and migrates to Solana ahead of its token’s public launch.

Malaysia-based VCI Global is making a bold move into digital assets with plans to acquire $100 million worth of OOB tokens, the native cryptocurrency of Tether-backed payments firm Oobit. The acquisition, announced Tuesday, is part of the company’s effort to expand its footprint across AI, fintech, and digital payments.

The deal positions VCI Global at the intersection of blockchain and financial technology, signaling its intent to integrate crypto assets directly into its business infrastructure.

Tether to Become VCI Global’s Largest Shareholder

As part of the transaction, Tether, the world’s largest stablecoin issuer, will become VCI Global’s largest shareholder. The company has already purchased $50 million in OOB tokens through a restricted share issuance to the OOB Foundation and plans to buy another $50 million once the token lists publicly.

“This is more than a digital-asset deal,” said Moshe Schisser, Chairman of Oobit. “It represents a major step toward expanding the real-world utility and growth of the Oobit ecosystem.”

The partnership highlights a growing trend among established financial firms adopting blockchain technology to bridge traditional and digital finance.

Oobit Rebrands and Migrates to Solana

Oobit is simultaneously rebranding its token from OBT to OOB and migrating from Ethereum to Solana, with an official launch slated for November 12. The OOB token will power Oobit’s tap-to-pay platform, enabling users to spend cryptocurrencies at retail points of sale — a move that could strengthen its mainstream adoption.

Backed by Tether, Solana co-founder Anatoly Yakovenko, CMCC Global, and 468 Capital, Oobit aims to position itself as a leading bridge between crypto wallets and global payments.

Malaysia Tightens Digital Asset Rules

The acquisition also comes as Malaysia’s Securities Commission moves to modernize its Digital Asset Exchange (DAX) regulations. The new framework aims to accelerate token listings and strengthen investor protections, reflecting a maturing local crypto market.

Also Read: Tether Emerges as Crypto’s Private Central Bank

Despite a sharp 26% drop in VCI Global’s stock this week, the move into OOB tokens underscores its long-term belief in crypto integration and digital treasury management.

VCI Global’s $100 million OOB token acquisition signals more than investment — it’s a strategic pivot toward the future of digital finance. With Tether’s backing and Malaysia’s regulatory evolution, the company is positioning itself as a key player in Asia’s growing crypto payments landscape.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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