OOBIT Debuts on Kraken; VCI Global Reports $109.8M Gain
The cryptocurrency payments sector welcomed a significant milestone this week. The OOB token debuted on Kraken on November 12, 2025, at 10 a.m. ET. This listing follows VCI Global’s strategic acquisition of $100 million in OOB tokens, marking a pivotal moment for institutional digital asset adoption.
VCI Global acquired 250 million OOB tokens at $0.20 per token, spending $50 million under its digital treasury framework. The Malaysia-based technology firm serves as the Treasury Manager of the OOB Foundation. As of 12:00 a.m. ET on November 13, the OOB token traded at approximately $0.64 on Kraken. This price represents a substantial unrealized gain for the company.
VCI Global’s OOBIT Token Investment Shows Strong Market Performance
The numbers tell a compelling story about institutional confidence in crypto payments infrastructure. VCI Global reported an unrealized gain of $109.8 million on its OOB holdings within hours of the token’s public trading debut. The token reached an all-time high of $0.74 on November 12, 2025, demonstrating robust early market demand.
The company purchased the tokens by issuing company shares as payment at a $200 million market valuation. VCI Global plans to acquire the remaining $50 million worth of OOB tokens from the open market. This structured approach reflects growing corporate treasury strategies embracing digital assets.
Tether-Backed OOBIT Platform Drives Real-World Crypto Payment Utility
OOBIT represents more than a tradable digital asset. The platform is a payments-focused crypto app backed by Tether, enabling users to pay in-store or online with stablecoins from any wallet. The application supports popular wallets including MetaMask, Phantom, and Trust Wallet.
Earlier in 2025, Oobit received $25 million from Tether in a Series A funding round. The stablecoin issuer concluded this investment to support ongoing cryptocurrency development and promote mainstream adoption. Tether becomes the largest shareholder in VCI Global through its stake in OOBIT, adding institutional credibility to the ecosystem.
OOBIT delivers a decentralized payments ecosystem enabling instant cross-border settlement and multi-chain interoperability. The platform integrates crypto payments into everyday commerce while maintaining institutional compliance and audit standards.
Strategic Partnerships Strengthen OOB Token Ecosystem Position
The OOB token benefits from an impressive roster of backers. Solana co-founder Anatoly Yakovenko, along with CMCC Global and 468 Capital, is also backing the platform. These partnerships provide technical expertise and market credibility.
VCI Global’s treasury management role provides institutional-grade oversight of token reserves, implementing staking and burn mechanisms with proper controls on circulation. The company integrates OOBIT’s payment and reward platform to provide tangible utility in cross-border and everyday transactions.
Since May 2024, OOBIT has integrated with The Open Network to facilitate retail payments through Tether’s stablecoins USDt and its gold-backed token, Tether Gold. This integration expands the practical use cases for the OOB token.
Kraken Listing Expands OOBIT Token Market Access and Liquidity
The Kraken listing provides crucial infrastructure for OOB token growth. The listing provides immediate access to millions of verified users globally, expanding liquidity and market reach. Kraken’s reputation as one of the longest-standing and fully regulated digital asset exchanges adds legitimacy.
Amram Adar, Founder and CEO of OOBIT, emphasized the significance of this development. He stated that the strong early performance of OOB on Kraken reflects growing confidence in utility tokens backed by real products and institutional transparency. The partnership aims to expand crypto payments into everyday life.
OOB is positioned as a hybrid model integrating real-world payments, staking, and institutional trust. This combination remains rare in digital assets. The token powers payments, rewards, and access across the OOBIT ecosystem.
Conclusion
The OOB token’s Kraken debut demonstrates institutional appetite for utility-driven cryptocurrency projects. VCI Global’s substantial unrealized gains validate the strategic thesis behind corporate digital asset treasuries. As Tether-backed infrastructure continues expanding, the OOBIT platform positions itself at the intersection of payments innovation and institutional trust.
