VCI Global of Malaysia to Acquire $100 Million in OOB Tokens from Oobit

Malaysia-based technology consulting firm VCI Global has announced its intention to buy $100 million worth of OOB tokens. These tokens are the native digital asset of Oobit, a crypto payments company backed by Tether. This acquisition is a strategic move to broaden VCI Global's presence in the digital finance sector.

Key Takeaways:

VCI Global is set to purchase $100 million in OOB tokens from Oobit, backed by Tether.
Tether will emerge as VCI Global's largest shareholder as part of this deal.
Following the acquisition, VCI Global plans to establish a digital treasury division and integrate the OOB token within its AI and fintech services.

In a statement released on Tuesday, VCI Global revealed that it has already completed the first half of the acquisition by securing $50 million in OOB tokens via a restricted share issuance directed at the OOB Foundation. The company plans to acquire the remaining $50 million on the secondary market once the tokens become publicly available.

Malaysia's VCI Global to Acquire $100M Worth of OOB Tokens in Deal With Tether-Backed Oobit

Tether to Become Largest Shareholder of VCI Global

The deal will position Tether, known as the world’s leading issuer of stablecoins, as the largest shareholder for VCI Global following the transaction.

“This is not just about digital assets; it represents a significant move toward enhancing the real-world applicability and growth of the Oobit ecosystem,” noted Moshe Schisser, Chairman of Oobit.

Once this acquisition is finalized, VCI Global aims to create a digital treasury division dedicated to managing its crypto portfolio, integrating OOB tokens into its AI, fintech, and data platforms. This initiative is one of VCI Global's most ambitious steps into the realm of digital assets thus far.

Meanwhile, Oobit is nearing the completion of its brand transition from OBT to OOB and is set to migrate from the Ethereum blockchain to Solana, with an official launch planned for November 12. The OOB token will play an integral role in Oobit’s tap-to-pay system, enabling users to make payments using digital currencies at point-of-sale terminals.

Oobit's supporters include Tether, Anatoly Yakovenko from Solana, CMCC Global, and 468 Capital.

VCI Global, which is publicly listed on Nasdaq, recently raised $5 million in a direct equity offering on October 31, with shares priced at $1.80 each. However, the company’s stock price dropped by 26.55% on Tuesday to $1.30, reflecting a 65.79% decline over the last month, as per Yahoo Finance data. Despite this downturn, this acquisition highlights VCI Global's strong commitment to establishing a firm foothold in the rapidly expanding crypto payment landscape.

Malaysia’s Securities Regulator Plans Major Updates to Crypto Exchange Guidelines

In related news, Malaysia’s Securities Commission (SC) is embarking on a significant update to its Digital Asset Exchange (DAX) regulatory framework. This initiative comes in response to a notable increase in crypto trading volumes, which reached RM13.9 billion ($2.9 billion) in 2024—over double the previous year's figures.

The SC has released a consultation paper, available from June 30 to August 11, 2025, detailing reforms designed to streamline the process of token listings, improve governance, and bolster investor protection as Malaysia's digital asset ecosystem continues to evolve.

The proposed changes would allow eligible tokens to be listed on regulated exchanges without requiring prior SC approval, assuming they meet set criteria. This adjustment aims to decrease regulatory delays and enable exchanges to react more swiftly to market demands, while also placing increased responsibility on operators to ensure compliance and manage risks effectively.

Additionally, the regulator intends to enforce stricter governance measures, including the segregation of client assets, enhanced risk management protocols, and higher financial standards for DAX operators to strengthen market resilience and instill greater investor confidence.

These reforms are part of Malaysia's broader effort to modernize its fintech and cryptocurrency landscape, which also includes exploration of asset tokenization and pilots for central bank digital currencies (CBDC) by Bank Negara Malaysia. Nonetheless, regulatory authorities continue to emphasize caution, clarifying that cryptocurrencies are not recognized as legal tender and intensifying enforcement actions against unlicensed exchanges like Bybit and Huobi.