Dogecoin gains access to Paxos network used by PayPal and Venmo
The popular memecoin's corporate arm, House of Doge, may be inching closer to becoming available to PayPal, Venmo, and Mercado Libre customers after striking a new partnership with Paxos.
House of Doge, working with "merger partner" Brag House Holdings, has initially partnered with Paxos "to integrate the listing of Dogecoin across Paxos’ enterprise-grade crypto brokerage and custody infrastructure." It's unclear when, or if, (DOGE) might also become available to Paxos' vast network of consumer clients.
"This partnership with Paxos represents a major step forward in accelerating global access for Dogecoin," House of Doge CEO Marco Margiotta said. "By integrating with Paxos’ trusted and regulated infrastructure, we are creating a powerful pathway for leading global fintech platforms to make Dogecoin accessible to their users."
Paxos provides PayPal, Venmo, and Mercado Libre with blockchain infrastructure used in consumer-facing applications, according to the statement. That allows these popular consumer apps to offer the buying, selling, and holding of crypto. For now, this new partnership is aimed at business clients.
"Paxos is committed to enabling safe and responsible access to digital assets through our regulated infrastructure," Paxos Head of Crypto Business Nick Robnett said. "We are thrilled to support the availability of Dogecoin on our platform and look forward to working with our enterprise clients as they evaluate expanding their digital asset offerings."
The Paxos client network is hundreds of millions strong across more than 150 countries, the companies said.
DOGE was changing hands at $0.100 as of 9:23 a.m. on Monday. The cryptocurrency has a market cap of $15.4 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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