Strategic move strengthens collaboration between traditional finance and blockchain payment infrastructure
VCI Global acquires $100 million in OOB tokens
VCI Global, a Malaysia-based technology consulting and investment firm listed on Nasdaq, has announced plans to acquire $100 million worth of OOB tokens, the native asset of Tether-backed crypto payment company Oobit. The transaction marks one of the largest token acquisitions by a publicly listed firm in Asia’s blockchain sector.
According to the company’s Tuesday statement, VCI Global has already acquired $50 million in OOB tokens through a restricted share issuance to the OOB Foundation. The firm intends to purchase another $50 million in tokens from the secondary market following the public launch of OOB.
Once the deal is finalized, Tether — the world’s largest stablecoin issuer — is expected to become the largest shareholder of VCI Global through its ownership stake in Oobit.
“We are not simply completing a digital-asset transaction,” said Moshe Schisser, Chairman of Oobit. “This combination presents tremendous potential to accelerate growth and expand the real-world utility of our ecosystem.”
New digital treasury and token integration
Following the investment, VCI Global plans to establish a digital treasury division dedicated to managing its crypto holdings and blockchain initiatives. The company also aims to integrate OOB token functionality across its AI, fintech, and sovereign data platforms, aligning its digital strategy with real-world blockchain applications.
The firm described the acquisition as a strategic expansion to enhance its financial infrastructure and position itself as a bridge between traditional finance and decentralized ecosystems.
OOB token rebrands and migrates to Solana
Meanwhile, Oobit is rebranding its token from “OBT” to “OOB” and migrating from Ethereum to the Solana blockchain, with the rebranded token scheduled to launch on November 12. The move aims to improve transaction speed and scalability for Oobit’s tap-to-pay crypto service, which enables instant digital payments at merchant point-of-sale systems.
Oobit counts Solana co-founder Anatoly Yakovenko, CMCC Global, and 468 Capital among its investors — further reinforcing the token’s institutional backing.
Market reaction and financial outlook
Despite the strategic announcement, VCI Global’s stock fell 26.55% on Tuesday, closing at $1.30 on Nasdaq, and has dropped over 65% in the past month, according to market data. The decline follows a $5 million fundraising round on October 31, where the company issued shares at $1.80 each to an institutional investor.
As blockchain adoption accelerates, VCI Global’s $100 million bet on OOB reflects growing confidence in integrating digital payment tokens into mainstream financial systems — signaling a pivotal moment for corporate crypto engagement in Asia.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.