VCI Global Limited announced a strategic partnership with Singapore‑based Oobit to develop a new crypto‑to‑fiat settlement rail called "Voobit" that will allow merchants in ASEAN and other high‑growth emerging markets to accept digital assets such as USDT, Bitcoin, and Ethereum while receiving instant fiat settlement in local currencies.
The partnership taps into a $3.1 trillion global payments market and focuses on the ASEAN SME sector, which is widely regarded as underserved by traditional banking and card networks. By providing a bankless settlement solution, VCI Global and Oobit aim to reduce transaction costs, shorten settlement times, and broaden payment options for small and medium‑sized enterprises that often lack access to efficient cross‑border payment infrastructure.
Voobit will be rolled out in early 2026 in Malaysia, Singapore, and Indonesia, with VCI Global responsible for accelerating merchant onboarding, enterprise integrations, and regional market expansion. The system is designed to operate without traditional intermediaries or card networks, offering instant fiat settlement and a seamless bridge between digital assets and local currencies.
VCI Global’s CEO, Dato’ Victor Hoo, said the partnership “solves real payment challenges for SMEs across ASEAN” and underscores the company’s broader strategy of building sovereign‑ready digital ecosystems. Oobit’s founder, Amram Adar, highlighted the innovation behind Voobit, noting that it “represents the evolution of global payments, offering instant, borderless, and efficient solutions.” The collaboration is expected to generate new revenue streams through merchant onboarding fees, enterprise integration services, and recurring transaction fees, while strengthening VCI Global’s competitive position in the digital payments arena.
The deal aligns with VCI Global’s diversification into AI, cybersecurity, and fintech, and complements Oobit’s history of developing crypto payment solutions since 2017. Both companies face regulatory challenges in ASEAN, where crypto‑to‑fiat transactions must navigate varying national frameworks, but the partnership’s focus on compliance and sovereign‑ready infrastructure positions it well to address these headwinds. The collaboration also places VCI Global and Oobit ahead of competitors such as Uphold, ConsenSys, and Luno, giving them a unique selling proposition in a rapidly growing market.
The partnership marks a significant step for VCI Global as it expands its technology footprint in Southeast Asia and positions it to capture a share of the growing digital payments market. With Voobit’s early 2026 launch and a clear focus on ASEAN SMEs, the company is poised to deliver new revenue streams and reinforce its strategic vision of bridging traditional finance with decentralized ecosystems.
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