Malaysia-based tech consulting firm VCI Global Ltd. has announced a strategic agreement to acquire $100 million worth of OOB tokens, the native cryptocurrency of Oobit, a digital payments company backed by Tether. The move represents a major step toward expanding VCI Global’s presence in blockchain-based financial services.
Deal Overview: Tether to Become VCI Global’s Largest Shareholder
As part of the transaction, Tether, the world’s leading stablecoin issuer, is expected to become VCI Global’s largest shareholder, further deepening the connection between the two firms.
According to VCI Global’s statement released on Tuesday, the company has already completed the first phase of the deal — purchasing $50 million worth of OOB tokens through a restricted share issuance to the OOB Foundation. The remaining $50 million will be acquired on the secondary market once the OOB token is publicly listed.
“This partnership goes beyond a traditional token investment,” said Moshe Schisser, Chairman of Oobit. “It’s a move to drive real-world adoption and expand the practical utility of the Oobit ecosystem.”
VCI Global to Launch Digital Treasury Division
Following the acquisition, VCI Global will establish a digital treasury division to oversee its crypto assets and integrate the OOB token within its AI, fintech, and sovereign data operations.
This initiative marks one of the company’s most significant steps into the digital asset and payment innovation sector, signaling a strong commitment to bridging traditional finance with Web3 technologies.
Oobit’s Rebranding and Blockchain Transition
Meanwhile, Oobit is nearing completion of a major rebranding effort—transitioning its token name from to while shifting its blockchain infrastructure from to . The official token launch is scheduled for .
