Matador Applied sciences, a Toronto-based digital asset agency, has entered a binding letter of intent to take a position as much as $3.2 million in HODL Programs, a publicly listed Indian firm that integrates crypto into its treasury technique. If totally exercised, the funding would give Matador as much as a 24.95% possession stake.
The settlement additionally outlines plans for HODL to license and distribute Matador’s blockchain-based digital gold and Ordinals merchandise in India — one of many world’s most gold-obsessed and mobile-savvy markets. India’s households maintain over 25,000 tonnes of gold, in line with the World Gold Council, whereas greater than 65% of the inhabitants is below 35, presenting a big potential consumer base for digital funding platforms.
“This strategic funding in HODL underscores our dedication to increasing our footprint in high-growth markets,” stated Matador CEO Deven Soni. Chief Visionary Officer Mark Moss added that the partnership displays a perception that “the following wave of worldwide monetary infrastructure will likely be constructed on digital belongings.”
Pending regulatory approvals, the primary tranche of the warrant funding — 25% of the whole — is anticipated to shut by July 10, 2025. The rest will likely be dedicated inside 18 months. The warrants will be transformed into fairness shares at a 1:1 ratio throughout that window.
The deal is topic to TSX Enterprise Alternate approval, shareholder consent at HODL, and issuance of the warrants in dematerialized kind. If accomplished, the transfer wouldn’t solely mark Matador’s entry into India, but in addition place the agency to faucet into one of many largest untapped markets for crypto-backed monetary instruments.
