The Dogecoin Foundation is looking to make DOGE a mainstream payment solution.

The Dogecoin Foundation is aiming to make DOGE a mainstream payment solution.

Known for its low transaction costs, Dogecoin has often been touted for its potential in payments despite being conceived as a joke and rising to fame as a meme. Now, the project looks set to explore this potential.

Announcing the launch of an “Official Dogecoin Reserve” seeded with 10 million DOGE, the non-profit committed to advancing the network’s utility is looking to make the meme coin a mainstream payment solution.

As reported by The Crypto Basic, the Dogecoin Foundation is forming a commercialization partner, House of Doge, to handle the coin’s off-chain activity.

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.

Amid the Dogecoin reserve news, the meme coin has outperformed other crypto assets in the top ten by market cap over the 24 hours. Specifically, it is trading at $0.1852, which is up 5% on the day.