Malaysia’s VCI Global to Acquire $100M in OOB Tokens Through Deal With Oobit

VCI Global, a Malaysian-based technology and consulting company that builds platforms across artificial intelligence, cybersecurity, and fintech, has officially unveiled its plans to enter the crypto payments arena by acquiring $100 million worth of OOB tokens today. According to the latest reports, VCI Global has initiated this to expand its digital finance footprint. On Tuesday, VCI Global confirmed its plan to purchase $100 million worth of OOB tokens, the native asset of Oobit, a Tether-backed crypto payments company, through its official social media pages and press releases. 

Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global, stated that the development reinforces their long-term commitment to building a cross-sector platform that advances technology, AI, digital assets, and industry applications through the capital markets. He emphasized that they aim to create sustainable value by bridging innovation with real-world growth.             

According to the latest reports, the Malaysian-based fintech company has already acquired $50 million worth of OOB tokens via a restricted share issuance to the OOB Foundation. The rest of the $50 million tokens involved in the deal will be purchased on the secondary market once the token goes public. After sealing the deal, VCI Global also confirmed that Tether, the largest stablecoin issuer in the world, will become its largest shareholder. The latest reports confirm that VCI aims to introduce a digital treasury division to control its crypto holdings and merge the purchased OOB tokens with its advanced AI and fintech platforms.

Moshe Schisser, Chairman of OOBIT, said that they were not simply completing a digital-asset transaction and that VCIG was a well-rounded platform advancing multiple sectors, from AI to finance to infrastructure. He added that this combination presented tremendous potential to accelerate growth and expand the real-world utility of their ecosystem. Oobit is currently in the last stages of rebranding its native token from OBT to OBB, and they plan to switch from Ethereum to Solana as well. The official launch is scheduled for today (November 12).   

Tether Is All Set to Become the Largest Shareholder of Malaysia-Based VCI Global

VCI Global (NASDAQ: VCIG) has officially announced that Tether, the largest stablecoin issuer, is all set to become VCIG’s largest shareholder after the $100 million OOB token digital-asset-treasury transaction deal between the two parties was sealed on November 11, 2025. The press release stated that following the transaction, Tether, through its holdings in OOBIT, was expected to become the largest shareholder of VCI Global, alongside industry leaders including Solana co-founder Anatoly Yakovenko, CMCC Global, and 468 Capital. Apart from being the largest shareholder, the OOB token is also appointed as Treasury Manager for the OOB digital-asset ecosystem. 

VCI Global has already unveiled its plans to introduce a digital treasury division to manage its crypto holdings and merge the OOB token into its AI, fintech, and sovereign data platforms. This latest initiative from the fintech will mark the beginning of an ambitious entry into the digital asset sector to date. VCI Global, the Nasdaq-listed firm, recently conducted a direct offering on October 31, selling shares at $1.80 each, and reportedly raised $5 million.         

Despite the OOB purchase momentum, VCI Global Limited (VCIG) stock experienced a significant drop on Tuesday. According to the latest information, on November 11, 2025, VCI Global stock fell around 26.55% from its previous close of $1.77 to $1.30. The stock opened at $2.205 and traded within a day range of $1.29 to $2.205 on the same day. Market experts opined that the steep decline was driven largely by the company’s announcement of a registered direct offering, which raised $5 million through the sale of 2.778 million shares at $1.80 per share, aimed at funding working capital and general corporate purposes.  

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