Matador Technologies to Acquire Stake in Indian Firm HODL Systems

Matador Technologies, a Toronto-based digital asset firm, has signed a binding letter of intent to invest up to $3.2 million in HODL Systems, a publicly listed Indian company integrating cryptocurrency into its treasury strategy. The investment could grant Matador a 24.95% ownership stake if fully exercised.

The partnership includes plans for HODL to license and distribute Matador’s blockchain-based digital Gold and Ordinals products in India, a market with significant potential due to its gold-obsessed culture and young, tech-savvy population. India’s households hold over 25,000 tonnes of gold, and more than 65% of its population is under 35.

"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 collaboration reflects a belief in digital assets as the foundation for the next wave of global financial infrastructure.

The first tranche of the warrant investment, representing 25% of the total, is expected to close by July 10, 2025, pending regulatory approvals. The remaining investment will be committed within 18 months, with warrants convertible into equity shares at a 1:1 ratio during that period.