Dogecoin Foundation Establishes 10M DOGE Reserve to Advance Payments Push
The Dogecoin Foundation is looking to make DOGE a mainstream payment solution.Despite being conceived as a joke and rising to fame as a meme, Dogecoin has long been hailed for its potential for payments thanks to low transaction costs. Now, the project looks set to explore this potential.A Dogecoin Payments Framework The Dogecoin Foundation, the non-profit committed to advancing the network's utility, is looking to make DOGE a mainstream payment solution.To this end, on Monday, March 24, the organization announced through its newly formed commercialization partner, House of Doge, that it had launched an "Official Dogecoin Reserve" seeded with 10 million DOGE. At current prices, this reserve is worth about $1.8 million.As explained in the press release, this reserve will function as a liquidity pool to bolster the efficiency of a Dogecoin payments framework currently in the works. In simple terms, the project hopes to cut out the wait times typically associated with blockchain transactions to provide a seamless experience for merchants and customers.Beyond this reserve, House of Doge noted that the DOGE payments framework will also introduce reward programs to further incentivize adoption.The Dogecoin corporate entity further disclosed that it would announce strategic partnerships in the coming months to showcase the payments framework.Notably, these partners will likely include sports teams, food and beverage brands, and restaurants, per February 2025 statements from Dogecoin Foundation Director Timothy Stebbing, initially unveiling the payments vision for Dogecoin and the House of Doge.https://twitter.com/tjstebbing/status/1893089795037110789DOGE Price ReactsAmid the Dogecoin reserve news, the meme coin has outperformed other crypto assets in the top ten by market cap over the past 24 hours. Specifically, it is trading at $0.1852, which is up 5% on the day.
Text source: The Crypto Basic
