Tether to become largest shareholder of VCI Global after $100m deal

KUALA LUMPUR - Tether, the world's largest stablecoin issuer, is set to become the largest shareholder of VCI Global Limited (NASDAQ:VCIG) following a $100 million OOB token digital-asset-treasury transaction, the company announced Tuesday. The investment comes as VCIG, with its modest market capitalization of $11.58 million, has seen an impressive 52.59% price return over the past week, according to InvestingPro data.

The transaction involves VCIG integrating the OOB token within its $100 million digital-treasury initiative to support future AI, fintech, and blockchain projects under its Nasdaq-listed governance framework.

Tether, which has a market capitalization of approximately $180 billion and maintains reserves in U.S. Treasury bills and cash equivalents, issues USDT, described as the most widely used asset-backed stablecoin globally.

The OOBIT ecosystem, which powers a tap-to-pay and cross-border decentralized payments platform, is backed by Solana Co-Founder Anatoly Yakovenko, CMCC Global, and 468 Capital, according to the press release statement.

VCI Global describes itself as a cross-sector platform builder focusing on developing and scaling platforms across artificial intelligence, encrypted data infrastructure, digital treasury systems, and capital market solutions.

The company aims to enable enterprises, governments, and institutions to capture opportunities in the digital economy through its integration of technology innovation with financial ecosystems.

The announcement comes as part of VCI Global's strategy to build scalable platforms across multiple high-growth sectors.

In other recent news, VCI Global Limited announced a significant acquisition of approximately $100 million in OOB tokens and has been appointed as the Treasury Manager for the OOB digital-asset ecosystem. This transaction includes the acquisition of $50 million worth of OOB tokens through restricted shares and an additional $50 million to be purchased in cash on the secondary market. Concurrently, VCI Global has raised $5 million through a registered direct offering, selling 2,777,778 ordinary shares at $1.80 per share. This offering was priced at-the-market under Nasdaq rules and is expected to close on October 31, 2025, with Rodman & Renshaw LLC as the exclusive placement agent.

Moreover, VCI Global's subsidiary, Smart Bridge Technologies Limited, has been appointed as the exclusive issuer and treasury manager of the upcoming XVIQ token, which is set to launch in the first quarter of 2026. Smart Bridge will manage the issuance of up to 1 billion XVIQ tokens, focusing on supporting AI infrastructure and GPU cloud computing. Additionally, VCI Global plans to launch an Ethereum-based crypto-fiat platform through Smart Bridge Technologies in the second quarter of 2026. This platform aims to integrate digital assets, gold, and traditional finance, providing a regulated ecosystem for institutional and retail investors.

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