“House of Doge” launches Official Dogecoin Reserve to bring memecoin into mainstream

House of Doge, the Dogecoin Foundation's commercial arm, has launched the Dogecoin Reserve. This initiative aims to establish Dogecoin as a swift, efficient, and reliable global payment solution. Simultaneously, House of Doge has entered a five-year partnership with the Dogecoin Foundation, officially appointing it as its commercialization partner.

The Dogecoin Foundation has supported this venture by purchasing $1.8 million worth of DOGE at the current market price, according to a foundation statement. This reserve aims to demonstrate Dogecoin's practical use as a payment method, bolstering its viability for everyday transactions.

Challenging the perception of memecoins as largely useless, House of Doge seeks to make Dogecoin a rapid payment option for businesses worldwide. Leveraging advanced technology, businesses will be able to instantly accept Dogecoin payments, addressing the slow transaction times often associated with blockchain technology and fostering trust comparable to traditional payment methods.

House of Doge stated, "This payment network will simplify transactions for both buyers and sellers, offering secure, fast, and reliable global payments."

Michael Galloro, a member of the House of Doge Board-Elect, explained in a press release: "With a strategic reserve, House of Doge is building a payments ecosystem focused on liquidity, stability, and reliability. Maintaining this reserve bridges the gap between transaction processing speed and real-world usability, making Dogecoin highly practical for everyday purchases."

Following the announcement, the price of DOGE rose from $0.176 to $0.185, currently trading at $0.185.

Also Read: Is Dogecoin (DOGE) About to Outrank Cardano (ADA) Again?