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Malaysia’s Nasdaq-listed VCI Global Limited (VCIG) is diving deeper into crypto with a $100 million acquisition of OOB tokens from Oobit, the Tether-backed payments app rebranding ahead of its Solana migration. Announced November 11, 2025, the deal positions VCI as treasury manager for the OOB Foundation, while Tether—USDT’s issuer with $183 billion in circulation—emerges as VCIG’s largest shareholder via its Oobit stake.
The transaction splits evenly: $50 million in restricted shares issued to the OOB Foundation at a $200 million valuation ($0.20 per token), plus $50 million in secondary-market cash buys post-launch on November 12. OOB, evolving from OBT, will fuel Oobit’s tap-to-pay ecosystem, enabling self-custody wallet spends at Visa/Mastercard terminals—merchants get fiat, users keep crypto control.
“This transcends a token buy—it’s ecosystem acceleration,” said Moshe Schisser, Oobit Chairman. Backed by Solana co-founder Anatoly Yakovenko, CMCC Global, and 468 Capital, Oobit raised $25 million in Series A funding in February 2024, led by Tether. Since its 2017 founding and 2022 app rollout, it’s processed billions in stablecoin volumes—86% USDT in Brazil’s beta—targeting everyday retail like EU food buys averaging $8.36.
For VCI, a tech consultancy with AI and fintech arms, the move launches a Digital Treasury Division to weave OOB into sovereign data and blockchain projects. “It reinforces our cross-sector platform for tech and digital assets via capital markets,” noted CEO Dato’ Victor Hoo. VCIG shares dipped over 20% intraday on dilution fears, yet analysts eye upside from Tether’s institutional clout.
On X, hype surged: “VCIG live at new highs post-Oobit tie-up,” tweeted @stockplaymaker1, with buzz around Tether’s Nasdaq foothold. As Southeast Asia’s crypto adoption booms—Malaysia vying as a hub—this bridges TradFi and Web3, potentially modeling tokenized treasuries for public firms. Oobit’s self-sovereign payments could unlock trillions in stablecoin utility, per Forbes insights.
In a convergent era, VCI’s stake isn’t speculation—it’s infrastructure for crypto’s daily grind.
