TechFlow news, March 25 — According to The Block, the Dogecoin Foundation has established an "Official Dogecoin Reserve" through its newly formed commercial arm, purchasing an initial 10 million DOGE (approximately $1.8 million) at current market prices. Following the announcement, DOGE's price rose 6%.
This move is part of the foundation’s collaboration with House of Doge, which became the official commercial partner of the Dogecoin Foundation after signing a five-year cooperation agreement in February. As stated in the announcement, the DOGE reserve serves as a proof-of-concept to demonstrate Dogecoin's viability for efficient and seamless transactions.
"The launch of the Dogecoin Reserve marks a significant step forward for House of Doge in realizing its vision of making Dogecoin a fast and reliable payment option for businesses and consumers," the announcement said. "Through innovative technology, merchants can instantly accept Dogecoin payments at checkout, eliminating the typical blockchain transaction wait times, while delivering the same level of trust as traditional payment methods."
The announcement added that House of Doge will unveil its first strategic partners in the coming months to showcase real-world applications of Dogecoin as a global payment solution. Additionally, the Dogecoin Foundation plans to collaborate with "major sporting events" to promote Dogecoin adoption and focus on educating users about using self-custody Dogecoin wallets.
