As reported by HashNews, VCI Global (NASDAQ: VCIG), a Malaysian-based technology and investment company, announced plans to acquire $100 million worth of OOB tokens and manage the digital finance of OOBIT, a Singapore-based crypto payment platform established in 2017. The deal includes a $50 million purchase of OOB tokens from the OOB Foundation at $0.20 per token, with shares in VCI Global as payment, and a further $50 million to be acquired from the public market after its formal listing. Tether will become the largest shareholder in VCI Global through its OOBIT stake. Investors also include Solana co-founder Anatoly Yakovenko, CMCC Global, and 468 Capital. Following the announcement, VCI Global's stock fell more than 20% in early trading.
VCI Global Announces $100M OOB Token Purchase and Partnership with OOBIT
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