VCI Global Acquires $100 Million in OOB Tokens to Power Web3 Payments

Hundred million dollar deal

In one of the most notable corporate-cryptocurrency crossover events of 2025, Malaysian tech conglomerate VCI Global (VCIG) announced a $100 million deal to acquire Oobit’s OOB token, the upcoming digital asset from Tether-backed payments platform Oobit.

The transaction not only deepens the strategic connection between Asia's fintech and crypto sectors, but also makes Tether - the world's largest stablecoin issuer - the largest shareholder of VCI Global through its stake in Oobit.

The buyback will take place in two phases, reflecting both a share issuance and a market-based buildup:

• Phase One (Completed): VCI Global issued $50 million in VCIG shares to the OOB Fund, essentially securing the first tranche of Oobit tokens.

• Phase Two (Pending): After the OOB token officially launches on November 12, VCI Global will purchase an additional $50 million in tokens from the secondary market, completing a $100 million buyback.

Once phase two is complete, Tether’s indirect equity position through Oobit will make the company the largest shareholder of VCI Global, representing a significant combination of stablecoin infrastructure and regulated corporate finance.

Token Rebranding

Under the deal, Oobit will rebrand its native token from OBT to OOB and transition its ecosystem from Ethereum to Solana. The move is aimed at improving transaction scalability and fee efficiency, supporting Oobit's goal of building a mainstream payments platform equivalent to PayPal or Apple Pay — but native to cryptocurrency.

The OOB token will serve as both a utility asset and a governance asset in the Oobit network, used for trading discounts, merchant rewards, and staking functions. Early backers expect the transition to Solana to improve developer efficiency and accessibility as Solana's DeFi and payments ecosystem continues to rapidly expand.

Our view

From a strategic perspective, the deal represents a hybrid model of Web2-Web3 convergence — where public companies deploy blockchain as both a financial tool and an operational differentiator.

VCI Global’s decision to structure the acquisition in part through an equity offering reflects a long-term partnership vision, rather than a speculative token purchase. However, the success of this initiative will depend on:

• Oobit's ability to achieve real payment adoption beyond cryptocurrency users.

• Tether's continued stability and legal standing as the funding entity behind the ecosystem.

• Market acceptance of Solana as a trusted backbone for institutional payments infrastructure.

VCI Global’s $100 million acquisition of Oobit’s OOB token marks one of the company’s most ambitious forays into blockchain payments to date — combining traditional capital markets, crypto payments, and stablecoin economics under one common strategy.

Disclaimer: The information presented in this article is the author's personal opinion in the cryptocurrency field. It is not intended to be financial or investment advice. Any investment decision should be based on careful consideration of your personal portfolio and risk tolerance. The views expressed in this article do not represent the official position of the platform. We recommend that readers conduct their own research and consult with a professional before making any investment decisions.