Tether, the world’s largest stable‑coin issuer, has become the largest shareholder of VCI Global Limited (VCIG) after completing a $100 million transaction that exchanges OOB tokens for equity. The deal, part of the OOBIT ecosystem backed by Solana co‑founder Anatoly Yakovenko, CMCC Global, and 468 Capital, integrates the OOB token into VCIG’s digital‑treasury platform and positions Tether to influence the company’s governance and strategic direction.
The OOBIT ecosystem is designed as a tap‑to‑pay and cross‑border decentralized payments platform. By embedding the OOB token into VCIG’s treasury, the company aims to accelerate the rollout of AI, fintech, and blockchain initiatives that rely on stable‑coin liquidity and a robust digital‑asset infrastructure.
VCIG’s financial profile shows a mixed picture. Over the past three years, revenue has declined 20.9 %, while gross margin remains strong at 75.91 % and net margin at 19.59 %. The company has no debt (debt‑to‑equity ratio of 0) and a current ratio of 2.3, but its Altman Z‑Score of 2.08 signals potential financial stress. These metrics suggest that while VCIG is operating efficiently, its growth trajectory is slowing.
Dato’ Victor Hoo, Group Executive Chairman and CEO of VCIG, said the partnership “reinforces our long‑term commitment to building a cross‑sector platform that advances technology, AI, digital assets, and industry applications through the capital markets.” The comment underscores the company’s intent to leverage Tether’s liquidity to support its sovereign‑ready digital ecosystem.
Investors reacted with caution, citing concerns about VCIG’s declining revenue growth and the company’s Altman Z‑Score. The negative sentiment tempered enthusiasm for the partnership, indicating that market participants weighed the strategic benefits against the underlying financial headwinds.
The transaction signals VCIG’s push to embed stable‑coin infrastructure into its treasury and to expand its AI and blockchain capabilities. While the partnership offers a pathway to greater liquidity and technological integration, the company’s financial challenges may limit immediate upside. Over the long term, the alliance could position VCIG as a key player in the sovereign‑ready digital ecosystem, provided it can sustain growth and manage its financial risk.
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