Tether Invests $100 Million in VCI's OOB Tokens, Connecting Conventional Finance with Blockchain Technology
- VCI Global acquires $100M OOB tokens via restricted shares and secondary market purchases, making Tether its largest shareholder. - Tether's $180B market cap and OOBIT's cross-border payments platform strengthen ties between traditional finance and blockchain ecosystems. - OOB token migration to Solana and digital treasury initiatives aim to enhance scalability, with 70% of crypto payments targeting retail/food sectors. - Mixed market reactions follow 26.55% VCIG share drop, though analysts highlight sta
VCI Global Limited (NASDAQ: VCIG) has strengthened its presence in the digital asset industry by securing $100 million worth of OOB tokens. This acquisition will result in
Under the agreement, VCI Global will obtain $50 million in OOB tokens at a $200 million valuation ($0.20 per token) by issuing restricted shares to the OOB Foundation. Another $50 million will be acquired from the secondary market after the token’s public debut, according to a
Tether’s increasing role in this transaction stands out. With a market cap near $180 billion and reserves in U.S. Treasury bills and cash equivalents totaling tens of billions, Tether’s investment in OOBIT makes it VCI Global’s primary shareholder, according to the Marketscreener report. This collaboration highlights Tether’s growing importance in connecting conventional finance with decentralized networks. “This is more than just a digital asset deal.
The Digital Treasury Division at VCI Global will manage the integration of OOB tokens into its business, supporting projects in AI, fintech, and sovereign data under its Nasdaq-listed structure. The company also revealed plans to launch a digital treasury initiative, utilizing the OOB token for international remittances, rewards programs, and cross-chain compatibility, as detailed in an
Market response has been varied. Despite the deal indicating strategic expansion, VCIG’s stock dropped 26.55% on Tuesday, showing investor wariness amid market fluctuations, according to a
The OOB token is also rebranding, moving from the
Dato' Victor Hoo, chairman of VCI Global, stressed the company’s long-term goals: “This milestone strengthens our dedication to developing a cross-industry platform that advances technology, AI, digital assets, and real-world applications through capital markets,” as stated in the GlobeNewswire release.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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