Tether Emerges as VCI Global's Largest Shareholder in $100M OOB Token Deal

VCI Global Limited (NASDAQ: VCIG) has made a strategic move into the digital-asset space, acquiring $100 million in OOB tokens and securing a role as Treasury Manager for the OOB digital-asset ecosystem, which is majority-owned by Tether Investment Limited, according to a Manila Times report. The transaction positions Tether, the issuer of the $183 billion-circulating USDT stablecoin, to become the largest shareholder of VCI Global, as reported by the Global Newswire. The deal also aligns the Nasdaq-listed firm with industry heavyweights including Solana co-founder Anatoly Yakovenko, CMCC Global, and 468 Capital, as noted by Cointelegraph.

The acquisition is structured in two phases: VCI Global purchased $50 million in OOB tokens at a $200 million market capitalization ($0.20 per token) through restricted share issuances to the OOB Foundation, according to the Manila Times report. A second $50 million tranche will be funded via cash purchases on the secondary market after the token's official launch, as reported by TS2 Tech. The OOB token will serve as the utility and incentive token for OOBIT, a blockchain-based payments and remittance platform designed to facilitate tap-to-pay transactions, low-cost cross-border remittances, and loyalty rewards, as detailed in the QuiverQuant report.

"This development reinforces our long-term commitment to building a cross-sector platform that advances technology, AI, digital assets, and industry applications through the capital markets," said Dato' Victor Hoo, VCI Global's Group Executive Chairman and CEO, as reported by Cointelegraph. Moshe Schisser, Chairman of OOBIT, emphasized that the partnership is not merely a "digital-asset transaction" but a strategic integration of VCI Global's platforms in AI, fintech, and data infrastructure with OOBIT's ecosystem, as noted in the TS2 Tech report.

The move expands VCI Global's footprint in digital treasury management and blockchain integration. The company plans to establish a Digital Treasury Division to oversee the initiative and integrate OOB token utility into its existing platforms, according to the Cointelegraph report. Analysts note that the transaction reflects broader trends in the crypto payments sector, where traditional financial institutions and fintech firms are racing to adopt stablecoin-based solutions. For instance, Visa recently announced support for stablecoin transactions across four new blockchains, while Stripe is testing its Tempo network, as highlighted by Cointelegraph.

VCI Global's shares fell over 20% in early trading following the announcement, though the company highlighted a robust balance sheet, with cash reserves exceeding debt and a current ratio of 2.3, as noted in the Investing.com article. The firm also completed a $5 million registered direct offering in October to fund general corporate purposes, according to the Investing.com article.

The OOBIT ecosystem, which integrates with The Open Network for retail payments, has already seen 70% of European crypto payments directed toward food-and-beverage and retail sectors, with an average transaction size of $8.36, as reported by the Manila Times report. With Tether's backing and VCI Global's cross-sector strategy, the partnership aims to bridge traditional finance and decentralized ecosystems through multi-chain interoperability, as detailed in the Cointelegraph report.

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, according to the Manila Times.

Tether to Emerge as Largest Shareholder of VCI Global (NASDAQ: VCIG) Following $100 Million OOB Token Transaction, per the Global Newswire.

VCI Global unveils crypto treasury plan, backs Tether's payments arm OOBIT, as reported by Cointelegraph.

VCI Global (VCIG) Buys $100M in OOB Tokens, Tapped as Oobit Treasury Manager, per TS2 Tech.

VCI Global Limited Acquires $100 Million in OOB Tokens and Becomes Treasury Manager for OOB Digital-Asset Ecosystem, as reported by QuiverQuant.

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, as per StockTitan.

VCI Global acquires $100 million in OOB tokens, partners with Tether, according to Investing.com.