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In a November 12 update, COINOTAG cited The Block on VCI Global, a Malaysian tech consulting firm, pursuing a strategic stake in OOB tokens. The plan envisions acquiring up to $100 million of the OOB token, the utility asset of Oobit, a crypto payments company backed by Tether.
To date, VCI Global has already secured $50 million of OOB by issuing restricted shares to the OOB Foundation. Management said the remaining amount would be repurchased via the secondary market after the token’s public issuance, signaling a disciplined capital deployment plan.
Upon completion, Tether will become the largest shareholder in VCI Global, according to the company’s statements.
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