VCI Global plans to acquire $100 million worth of OOB tokens, and Tether will become VCI Global's largest shareholder
2025-11-12 00:31:16
On November 12, according to Cointelegraph, Malaysia-based VCI Global (NASDAQ: VCIG) announced that it plans to acquire $100 million worth of OOB tokens and oversee the digital fund pool of Singapore-based cryptocurrency payment platform OOBIT. In addition, Tether will become the largest shareholder of VCI Global through its stake in OOBIT. VCI Global acquired $50 million worth of OOB tokens from the OOB Foundation through the distribution company shares as a payment method. The company plans to buy an additional $50 million worth of OOB tokens on the open market after its official launch. VCI Global is a technology and investment firm that develops platforms covering AI, digital finance and data infrastructure. In February 2024, the company raised a $25 million Series A funding round to expand its cryptocurrency payment application.
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