Fintech Launching Digital Gold Product on Blockchain Listed on OTCQB

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Matador Technologies Inc. (MATA:TSX.V; MTDTF:OTCQB), which is set to launch its digital gold product soon, announced it has received approval to list its common shares on the OTC Markets exchange under the symbol MTDTF:OTCQB starting on March 18.

Matador has integrated Bitcoin as a foundational asset for its treasury, and as the platform for its digital gold product, which will combine the tangible value of physical gold with the security of the Bitcoin blockchain, the company said.

"We are excited to list on the OTC Markets, which represents an important step in our long-term growth strategy," said Chief Executive officer Deven Soni. “Matador is Canada's sole public company that has a focus on building technology for the precious metals space using the Bitcoin network. We are looking forward to expanding our investor base with this OTC listing."

Matador said the listing marks a significant milestone as it executes its strategic plan to enhance liquidity, broaden its shareholder base, and provide U.S. investors with greater accessibility to its stock.

"The listing aligns with the Company's commitment to expanding its presence in global capital markets while reinforcing its position within the digital asset and financial technology sectors," the company said in a release.

The company said it will continue to trade on the TSX Venture under the ticker symbol MATA, in addition to its new OTC Markets listing.

'Cornerstones' of Investment

Matador's technology pairs its digital gold product with digital art on the Bitcoin blockchain. The gold is sourced through the Royal Canadian Mint through a partnership with Kitco Metals Inc. All physical gold holdings will remain stored at the Mint.

"Matador continues to integrate Bitcoin into its long-term strategy, reinforcing its role as a core treasury asset and the platform of choice for its upcoming digital gold platform," the company has said. "As Matador advances its growth strategy, the company remains committed to expanding its treasury holdings of Bitcoin and gold, leveraging blockchain technology, and delivering long-term value for stakeholders."

The launch of its digital product, which will blend gold ownership with digital art, is part of a larger vision to merge traditional finance with progressive digital tools, the company has said.

"Bitcoin and other assets have captured the imagination of a younger generation that might have otherwise been interested in gold," said Alex Tapscott, an entrepreneur, business author, and seasoned capital markets professional, who owns 0.04% of Matador's stock, according to Refinitiv.

"To me, these are both things (Bitcoin and gold) that should be cornerstones of anyone's portfolio," he said.

'A Container for Value'

However, the way people invest in gold has never really changed in modern times, said Tapscott, who co-wrote the bestselling book Blockchain Revolution: How the Technology Behind Bitcoin is Changing Money, Business, and the World, and the more recent Wall Street Journal Bestseller Web3.

The first decentralized cryptocurrency, Bitcoin is a digitized alternative form of payment created using encryption algorithms. Nodes in a peer-to-peer network verify transactions on a distributed ledger called a blockchain that can contain just about anything. A newer invention called crypto tokens allows a digital representation of an asset or interest in something built on a blockchain, according to Investopedia.

Tapscott described tokens as just "a container for value" and can contain whatever is needed. Soni said the company places an automated order for gold in real-time as Matador gold is purchased, always ensuring they have an excess in the Royal Canadian Mint.

According to the company's investor presentation, it is partnering with blockchain artists to create exclusive collections of 1,000 digital artifacts etched on physical gold, "blending art and blockchain technology."

The Catalyst: Perfect Storm in Gold Market

The gold market hit a big milestone last week as it surged above US$3,000 an ounce for the first time, Neils Christensen reported for Kitco on March 17.

In a research note published Friday, Ole Hansen, Head of Commodity Strategy at Saxo Bank, said he viewed any dip in the market as a buying opportunity and reiterated his 2025 price target of US$3,300 an ounce, Christensen reported. Hansen noted that robust central bank demand, falling global interest rates, and geopolitical uncertainty have been the key factors driving gold’s unprecedented rally since February 2024, Christensen said. He pointed out that gold prices have risen 39% in the last 12 months and 14% since the start of 2025.

A perfect storm is brewing in the market, Hansen said, pointing out the global economic uncertainty and geopolitical turmoil since U.S. President Donald Trump resumed power.

"The resulting stock market correction, led by recently high-flying companies now facing a potential end to U.S. exceptionalism, has prompted overseas and U.S. investors to seek alternatives," he said. "These factors have heightened stagflation risks — slowing growth, rising unemployment, and increasing inflation — potentially forcing the Federal Reserve to ease financial conditions. Markets now anticipate three 25-basis-point cuts by year-end, up from just one in January."

Some predict even higher prices for gold. On March 11, according to Friesen, DoubleLine Chief Executive Officer Jeffrey Gundlach said, "I think gold will make it to US$4,000. I'm not sure that'll happen this year, but I feel like that's the measured move anticipated by the long consolidation at around US$1,800 on gold."

"Gold is in a secular bull market. We forecast prices to trade between US$3,000-US$3,200 this year," said Alex Ebkarian, chief operating officer at Allegiance Gold, according to a Reuters report.

The global Bitcoin market size was valued at US$17.05 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 26.2% from 2022 to 2030, Grand View Research said.

The platform can deliver cheaper and faster payments, less volatility, and also enables secure transactions, the firm said.

"As a result, Bitcoin can also be used as a store of value, other than as a medium of exchange for products and services across the globe," researchers said. "Moreover, with the emergence of Bitcoin, financial transactions no longer require central authorization and are settled immediately." 

Ownership and Share Structure

According to the company, 65% is owned by management and insiders, including Founder and Director Donato Sferra, Vice President of Finance Geoff St. Clair, Director Richard Murphy, Soni, a strategic investor (through UTXO Management, LLC and 210K Capital, LP), Director Tyler Evans (through UTXO Management, LLC and 210K Capital, LP), and Founder Trevor Koverko, among others. 

The rest, about 35%, is retail, and includes Hive Digital with 3%, Kitco Metals with 1%, and Gold Fields Ltd. with 4%, the company said.

It has about 92.36 million shares outstanding and has a market cap of CA$24.8 million at the time of writing. It trades in a 52-week range of CA$0.11 and CA$0.90.