Dogecoin Partnership With Paxos Broadens Potential Access via PayPal, Venmo
Summary
- House of Doge said it had entered into a partnership with blockchain infrastructure firm Paxos.
- Under the agreement, Dogecoin will be integrated into Paxos's institutional crypto brokerage and custody infrastructure, expanding the potential for users of PayPal, Venmo and Mercado Libre to access Dogecoin.
- The company said the partnership is focused on services for institutional clients and will not immediately lead to a Dogecoin listing on PayPal or Venmo.
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House of Doge, the corporate organization behind Dogecoin (DOGE), has partnered with blockchain infrastructure firm Paxos.
Under the agreement, Dogecoin will be integrated into Paxos's institutional cryptocurrency brokerage and custody infrastructure, The Block reported on June 1. The move could widen the path for users of PayPal, Venmo and Mercado Libre to eventually access Dogecoin.
Paxos currently provides blockchain and crypto infrastructure to PayPal, Venmo and Mercado Libre. Those platforms use Paxos technology to offer users cryptocurrency trading and custody services.
The partnership does not mean Dogecoin will be listed immediately on PayPal or Venmo. For now, the agreement is focused on services for institutional clients.
"This partnership is an important step toward expanding access to Dogecoin globally," House of Doge Chief Executive Officer Marco Margiotta said. Through Paxos's compliant infrastructure, major fintech platforms now have a foundation to offer Dogecoin to users, he added.
Nick Robnett, Paxos's head of crypto, said the company was pleased to support Dogecoin's availability on the Paxos platform. Paxos will work with institutional clients as they expand their digital-asset services, he said.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
