The Dogecoin Foundation Has Recently Created a Corporate Arm Called House of Doge

The Dogecoin Foundation has recently created a corporate arm called House of Doge, which is now forming an Official Dogecoin Reserve of 10 million DOGE.

The Dogecoin Foundation’s corporate arm, House of Doge, has launched an Official Dogecoin Reserve with 10 million DOGE.

The organization views the reserve as a proof of concept for a payment ecosystem, showcasing the efficiency and speed of the Dogecoin blockchain.

House of Doge purchased the 10 million DOGE, which is valued at approximately $1.83 million at current prices. The reserve will serve to guarantee liquidity, rather than acting as a hedge, as most strategic reserves do.

"By maintaining a reserve, we can bridge the gap between transaction processing times and real-world usability, making Dogecoin extremely practical for everyday purchases," said House of Doge board member-elect Michael Galloro in a statement.

"Dogecoin's inflationary model ensures ongoing liquidity and supports everyday use as a true medium of exchange," the statement added.

House of Doge plans to offer merchant incentives and cashback offers to users, and in the coming months, strategic partners will demonstrate the scalability of the DOGE ecosystem, while maintaining the fast settlement time.

The organization will also provide consultation, education, and funding for research and development.

Corporate interest in DOGE is lively

Earlier this year, Dogecoin Foundation director Timothy Stebbing revealed on X that the foundation had declined offers of millions of dollars from corporations seeking partnerships because their interest in DOGE was not sincere enough.

In November, the foundation was introduced to individuals with extensive experience in the American private investment and enterprise sector who were keen on advancing the adoption of DOGE.

Stebbing did not disclose the identities but mentioned that owners and executives of major league sports teams, government officials, and CEOs of global food and hospitality companies attended the meeting.

The aim was to have baseball, football, and hockey teams accept DOGE at their events, government agencies accept DOGE for various payments, and restaurant chains and university cafeterias use the token.

As a result of those introductions, House of Doge was formed as a commercialization partner with the Dogecoin Foundation under a five-year contract.

With that contract in place, the foundation will more than double its development team with new senior engineers and hold hackathons and other promotional activities.

Since then, it has been announced that vice chairman of the Toronto Blue Jays baseball team Roger Rai and president and CEO of food services giant Sodexo North America Sarosh Mistry have joined the House of Doge board.

The DOGE community already has things to do

House of Doge and the Dogecoin Foundation partnered with IndyCar driver DeFrancesco and the Rahal Letterman Lanigan Racing company to wrap a car and DeFrancesco's helmet in a DOGE design.

Stebbing highlighted that it is possible to buy a car with DOGE. In fact, DOGE already offers numerous possibilities. Japanese real estate firm Open House Group accepts DOGE for property purchases.

By the time of Stebbin's announcement in February, House of Doge had already raised millions of dollars with the goal of assembling 10,000 application-specific integrated circuit (ASIC) mining machines this year to create the largest DOGE mining operation in North America. The DOGE mined in that operation will go into the Official Reserve. There will be a mining pool that community members will be able to contribute hash power to.