VCI Global Partners with Oobit to Expand Access to the US$3.1 Trillion Global Payment Market for Crypto-to-Fiat Transactions

Core Insights - VCI Global Limited has announced a strategic partnership with Oobit to enhance access to the global payment market through a new crypto-to-fiat settlement infrastructure [1][2] - The collaboration aims to enable instant fiat conversion for merchants in ASEAN and other emerging markets, addressing gaps in financial infrastructure and payment accessibility [3][9] Group 1: Partnership and Infrastructure - Oobit's platform allows consumers to pay using major digital assets while merchants receive real-time fiat settlement in local currencies [2][4] - The partnership will focus on accelerating merchant onboarding and enterprise integrations, particularly targeting the underserved SME sector in ASEAN [3][5] - Voobit, a next-generation settlement rail, will be developed to operate independently of traditional card networks, providing a scalable alternative for small businesses [5][10] Group 2: Market Opportunity and Growth - The global payments market is projected to reach approximately US$3.12 trillion by 2025, with significant growth expected towards 2030 [8] - SMEs in ASEAN represent a large portion of the private sector but often face financing and structural gaps that limit access to modern payment systems [8][9] - Voobit aims to provide instant, compliant, and cost-efficient crypto-to-fiat settlement, helping SMEs overcome fragmented payment infrastructure and unlock new revenue streams [9][10]