VCI Global plans to spend 100 million USD to acquire Oobit tokens (OOB) from the Tether-backed crypto payment company Oobit

ChainCatcher reported that Malaysian technology consulting firm VCI Global plans to acquire $100 millions worth of OOB tokens. OOB is a utility token issued by Oobit, a crypto payment company backed by Tether.

According to the transaction structure, VCI Global has already acquired $50 millions worth of OOB tokens by issuing restricted shares to the OOB Foundation. The company stated on Tuesday that it plans to purchase an additional $50 millions worth of tokens on the secondary market after the public offering of the token. VCI Global said that upon completion of the transaction, Tether will become its largest shareholder.