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Matador Technologies to Acquire Stake in Indian Firm HODL Systems
The Canadian firm plans to invest $3.2M for up to 24.95% ownership and license its digital gold tech to the Indian market.
May 29, 2025, 4:19 p.m.
What to know:
- Matador signed a binding LOI to invest in HODL Systems, a publicly traded Indian tech firm.
- The deal includes licensing Matador’s digital gold and Ordinals products for distribution in India.
- The move targets India’s mobile-first, gold-hungry investor base with blockchain-based solutions.
Matador Technologies, a Toronto-based digital asset firm, has entered a binding letter of intent to invest up to $3.2 million in HODL Systems, a publicly listed Indian company that integrates crypto into its treasury strategy. If fully exercised, the investment would give Matador up to a 24.95% ownership stake.
The agreement also outlines plans for HODL to license and distribute Matador’s blockchain-based digital gold and Ordinals products in India — one of the world’s most gold-obsessed and mobile-savvy markets. India’s households hold over 25,000 tonnes of gold, according to the World Gold Council, while more than 65% of the population is under 35, presenting a large potential user base for digital investment platforms.
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“This strategic investment in HODL underscores our commitment to expanding our footprint in high-growth markets,” said Matador CEO Deven Soni. Chief Visionary Officer Mark Moss added that the partnership reflects a belief that “the next wave of global financial infrastructure will be built on digital assets.”
Pending regulatory approvals, the first tranche of the warrant investment — 25% of the total — is expected to close by July 10, 2025. The remainder will be committed within 18 months. The warrants can be converted into equity shares at a 1:1 ratio during that window.
The deal is subject to TSX Venture Exchange approval, shareholder consent at HODL, and issuance of the warrants in dematerialized form. If completed, the move would not only mark Matador’s entry into India, but also position the firm to tap into one of the largest untapped markets for crypto-backed financial tools.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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