House of Doge, a new subdivision of the Dogecoin Foundation, has introduced the Official Dogecoin Reserve, aiming to reduce transaction lag times and enhance the adoption of digital currencies.
House of DOGE Buys 10M Dogecoins
House of Doge has purchased 10 million Dogecoins worth $1.8 million to speed up blockchain transactions, aiming to improve payment efficiency for businesses and consumers. "Through the launch of the Reserve, and an initial 10 million Dogecoin purchase, House of Doge is creating a proof of concept to show that Dogecoin can facilitate seamless and efficient transactions," the release stated.
Why DOGE is Great for Payments
Dogecoin is gaining momentum as a promising payment method. Michael Galloro, a board member-elect at House of Doge, believes that the Dogecoin Reserve will enhance transaction speed and make Dogecoin a top choice for everyday payments. The project aims to make it easier for businesses to accept Dogecoin by integrating a simple payment button and reducing blockchain settlement times. Dogecoin's inflationary supply makes it a great payment option, offering cashback incentives and merchant partnerships.
Dogecoin Foundation Explores US Gov't Talks
The Dogecoin Foundation has been in talks with US Government representatives interested in using Dogecoin for everyday payments, such as city parking and utility bills. Plans include collaboration with large-scale sporting events to promote Dogecoin and educate attendees on self-custodial Dogecoin wallets. Three Dogecoin-related ETF filings are currently under review by the U.S. Securities and Exchange Commission, with a high likelihood of approval by year-end.
The launch of the Official Dogecoin Reserve by House of Doge might boost the growth and adoption of Dogecoin as a global payment solution.
