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

Malaysia-based know-how consulting agency VCI Global has introduced plans to purchase $100 million value of OOB tokens, the native asset of Tether-backed crypto funds firm Oobit, in a transfer geared toward increasing its digital finance footprint.

According to the firm’s statement on Tuesday, VCI Global has already acquired $50 million value of OOB tokens via a restricted share issuance to the OOB Foundation and intends to buy one other $50 million value on the secondary market as soon as the token goes public.

Tether Set to Become Largest Shareholder of Malaysia’s VCI Global

The firm additionally confirmed that Tether, the world’s largest stablecoin issuer, will develop into its largest shareholder following the transaction.

“This is greater than a digital-asset deal,” stated Moshe Schisser, Chairman of Oobit. “It represents a serious step towards increasing the real-world utility and development of the Oobit ecosystem.”

Following the acquisition, VCI Global plans to arrange a digital treasury division to handle its crypto holdings and incorporate the OOB token into its AI, fintech, and sovereign information platforms.

The initiative marks one of the agency’s most bold forays into the digital asset sector to date.

Meanwhile, Oobit is in the ultimate levels of rebranding its token from OBT to OOB and migrating from Ethereum to Solana, with the official launch scheduled for November 12.

The token will underpin Oobit’s tap-to-pay crypto fee platform, which permits customers to spend digital belongings at service provider point-of-sale methods.

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Oobit’s backers embrace Tether, Solana co-founder Anatoly Yakovenko, CMCC Global, and 468 Capital.

VCI Global, listed on Nasdaq, just lately raised $5 million in a direct providing on October 31, promoting shares at $1.80 every.

However, its inventory fell 26.55% on Tuesday to $1.30, marking a 65.79% decline over the previous month, in accordance to Yahoo Finance information.

Despite the droop, the corporate’s transfer indicators a robust dedication to positioning itself throughout the fast-growing crypto funds sector.

Malaysia’s Securities Regulator Proposes Major Overhaul of Crypto Exchange Rules

As reported, Malaysia’s Securities Commission (SC) has unveiled plans to modernize its Digital Asset Exchange (DAX) regulatory framework following a surge in crypto buying and selling volumes, which hit RM13.9 billion ($2.9 billion) in 2024, greater than double the earlier 12 months.

The SC’s session paper, open from June 30 to August 11, 2025, outlines reforms geared toward dashing up token listings, strengthening governance, and enhancing investor safety as Malaysia’s digital asset ecosystem matures.

Under the proposed guidelines, eligible tokens might be listed on regulated exchanges with out prior SC approval, supplied they meet predefined standards.

The transfer is meant to scale back regulatory bottlenecks and permit exchanges to reply quicker to market demand, although it locations extra accountability on operators to guarantee compliance and handle dangers.

The regulator additionally plans to impose stricter governance requirements, together with segregation of shopper belongings, improved danger administration, and better monetary thresholds for DAX operators to bolster resilience and investor confidence.

The reforms type half of Malaysia’s broader fintech and crypto modernization push, which incorporates Bank Negara Malaysia’s exploration of asset tokenization and CBDC pilots.

However, regulators proceed to stress warning, sustaining that cryptocurrencies should not authorized tender and ramping up enforcement towards unlicensed exchanges akin to Bybit and Huobi.

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