BlockBeats News, November 12th, According to The Block, Malaysian tech consulting firm VCI Global plans to acquire $100 million worth of OOB tokens. OOB is the utility token of crypto payment company Oobit backed by Tether.
Under the transaction structure, VCI Global has already 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 another $50 million worth of tokens through the secondary market after the token’s public issuance. VCI Global stated that after the transaction is completed, Tether will become its largest shareholder.
