VCI Global Invests $100 Million in OOB Token as Tether Becomes Its Largest Shareholder

Malaysia-based technology consulting firm VCI Global has announced plans to acquire $100 million worth of OOB tokens, the utility token of Oobit, a crypto payments company backed by Tether. The move positions Tether as the largest shareholder in the Nasdaq-listed firm.

According to VCI Global’s statement on Tuesday, the deal involves a $50 million purchase of OOB tokens through restricted share issuance to the OOB Foundation. The company also plans to buy another $50 million worth of tokens on the secondary market once OOB officially launches.

VCI Global Acquires US$100 Million in OOB Tokens and Is Appointed as Treasury Manager of OOB Foundation, in Partnership with OOBIT, Where Tether (USDT Issuer with US$183 Billion in Circulation) Is the Largest Shareholder

The OOB Token will serve as the utility and incentive token within the OOBIT ecosystem, powering payments, rewards, and cross-border transactions…

VCI Global LimitedVCI Global Limited

Moshe Schisser, Chairman of Oobit, described the partnership as more than just a crypto investment.

“We are not simply completing a digital-asset transaction,” Schisser said. “This combination presents tremendous potential to accelerate growth and expand the real-world utility of our ecosystem.”

Following the investment, VCI Global plans to establish a dedicated digital treasury division to manage its cryptocurrency initiatives and incorporate OOB token utility into its broader AI, fintech, and sovereign data platforms.

OOB Token Rebrand and Network Migration

As part of its growth strategy, Oobit is rebranding its token from “OBT” to “OOB” and migrating from Ethereum to Solana, with the official launch scheduled for November 12. The updated token will support Oobit’s tap-to-pay crypto transactions at merchant point-of-sale systems, making crypto spending more accessible for everyday users.

Oobit has attracted several high-profile backers, including Solana co-founder Anatoly Yakovenko, CMCC Global, and 468 Capital, underscoring growing institutional confidence in its payment ecosystem.

Market Context

VCI Global, known for integrating technology with financial systems to build sovereign-ready digital ecosystems, has been expanding aggressively in recent months. On October 31, the firm raised $5 million through a direct offering at $1.80 per share.

VCI Global Announces $5 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

KUALA LUMPUR, Malaysia, Oct. 31, 2025 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global” or the “Company”) a leading provider of…

VCI Global LimitedVCI Global Limited

However, the company’s stock has been under pressure. Shares fell 26.55% to close at $1.30 on Tuesday, and have dropped nearly 66% over the past month, according to Yahoo Finance data.