VCI Global plans to invest 100 million dollars to acquire Oobit tokens OOB, supported by Tether

VCI Global, a Malaysian technology consulting company, plans to acquire $100 million worth of OOB tokens. OOB is the utility token of Oobit, a crypto payment company supported by Tether.

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