Tech Firm Launching Revolutionary Digital Gold Platform

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Matador Technologies Inc. (MATA:TSX.V; MATAF:OTCQB), a company leveraging blockchain technology to digitize assets, announced its stock ticker symbol on the OTCBQ Venture Market has changed from "MTDTF" to "MATAF."

The change, which was live as of market open on Monday, will allow for "improved and synchronized brand alignment for the stock and the company," Matador said in a release.

Matador's common shares traded in the United States under the symbol MATAF on the OTCQB Venture Market are now eligible for electronic clearing and settlement through Depository Trust Company (DTC), Matador said. DTC eligibility simplifies the process of trading and enhances liquidity by enabling shares of Matador to be transferred electronically between brokerages in the U.S.

"We are pleased to have secured DTC eligibility, which represents another important step in expanding our presence in U.S. capital markets," said Deven Soni, chief executive officer of Matador Technologies. "This development aligns with our broader strategy to increase shareholder visibility and enhance liquidity as we continue to build an innovative platform at the intersection of bitcoin and physical gold."

No action is required by Matador's current shareholders in connection with the ticker symbol change, the company said.

Despite Turbulence, Gold Bull Market Still Here

The company is preparing to launch its digital gold product soon as the yellow metal continues in its bull market, despite some current turbulence.

Gold prices pared some losses on Wednesday as bets that the U.S. Federal Reserve will cut rates rose after weaker-than-expected first quarter U.S. growth, Anjana Anil reported for Reuters.

Spot gold was down 0.2% at US$3,308.32 an ounce at 1:58 a.m. ET but was on track to log its fourth consecutive monthly gain, up almost 6% so far in April, Anil wrote.

Data showed U.S. gross domestic product contracted at a 0.3% annualized rate last quarter, as businesses rushed to import goods ahead of expected tariffs from the Trump administration, the article reported.

"Gold remains confidently in a bull market and today's data suggests an easier path to initial Fed rate cuts which should be positive for gold," Tai Wong, an independent metals trader, told Anil.

Some predict gold could go even higher. Garth Friesen wrote for Forbes on March 15 that 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."

And according to an April 10 post on Goldfix, Goldman Sachs has revised raised the upper boundary of its forecast range for the end of the year to US$3,520 an ounce and even introduced a "tall-risk scenario" as high as US$4,500 an ounce.

Launch To Feature Gold 'Grammies'

The company is moving toward launching its digital asset platform, beginning with a gold-based product on the bitcoin network, in the next couple of months. The launch will feature "Grammies," 1-gram units of physical gold linked to digital inscriptions using bitcoin ordinals.

Users will be able to view their Grammies in a personalized dashboard, buy and sell in a secure trading environment, transfer Grammies to ordinals-compatible bitcoin wallets, and print Grammies into physical gold artwork.

Matador said it expects the Grammies product to be the first of multiple offerings centered on precious metals and digital inscription, with silver and other metals under consideration for future phases.

The company also noted that as a part of asset diversification approach, it continues to accumulate both bitcoin and physical gold.

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 and physical gold holdings are stored at the Mint.

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.

Mixing Gold, Digital Art

It is clear many investors are attracted to gold in this current geopolitical climate. But most do it the old-fashioned way and buy and store gold in vaults or under the mattress, wrote Don Tapscott, executive chairman of the Blockchain Research Institute and one of the world's leading authorities on technology's impact on business and society.

"The gold industry has missed out on the digitally native and newly affluent class of investors who love Bitcoin (and would perhaps love gold if given the chance)," wrote the author, who has penned 16 books, including Blockchain Revolution: How the Technology Behind Bitcoin and Other Cryptocurrencies is Changing the World, with his son, Alex Tapscott. "So, gold needs to play a little catch-up."

He said Matador "wants to be one of the first public companies focused on tokenizing real-world assets by leveraging the Bitcoin blockchain, starting with gold."

"The gold product mixes real gold with digital art, similar to how a commemorative gold coin mixed the scarcity of the precious metal with the scarcity of a limited-edition design," wrote Don Tapscott. "The user has a claim on both the physical gold and the digital art."

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 92.22 million shares outstanding and has a market cap of CA$39.55 million at the time of writing. It trades in a 52-week range of CA$0.11 and CA$0.90.