Dogecoin Foundation Partners with Paxos to Expand DOGE Access

The Dogecoin Foundation’s corporate arm has partnered with Paxos to integrate DOGE across its brokerage and custody infrastructure, potentially expanding access to the memecoin through regulated financial channels.

According to a Monday announcement, Dogecoin (DOGE) will become available through Paxos’ brokerage and custody platform, allowing the company’s fintech, payments and institutional clients to evaluate support for the memecoin.

Paxos provides crypto infrastructure for several major fintech and brokerage platforms, including PayPal, Venmo, Interactive Brokers and Mercado Libre.

The partnership does not mean those companies will automatically offer DOGE trading or custody services. However, it makes the asset available for Paxos clients to evaluate and potentially integrate into their own product offerings.

Whether the partnership translates into meaningful adoption remains to be seen. Although Dogecoin remains the largest memecoin by market capitalization -- $15.53 billion per CoinMarketCap data -- and has historically exhibited a strong correlation with broader crypto market sentiment, institutional demand for the asset still trails that of Bitcoin (BTC) and Ether (ETH).

There are signs that institutional interest is gradually expanding. In January 2025, Grayscale launched the Grayscale Dogecoin Trust, a private investment vehicle for accredited investors seeking exposure to DOGE.

Asset manager 21Shares was also approved to list its Dogecoin ETF in the United States earlier this year.

Dogecoin market capitalization, 2014-present. Source: CoinMarketCap

Related: Crypto Biz: Institutions tighten their grip on Bitcoin, AI and prediction markets

Crypto investment products face sustained outflows

The Paxos DOGE launch comes amid clear signs of subdued market appetite for digital assets across institutional and retail circles. Crypto exchange-traded products recorded $1.67 billion in net outflows last week, marking the third consecutive week of withdrawals, according to CoinShares. Total outflows over that period reached $4.21 billion.

The pullback reflects a broader risk-off sentiment across parts of the market, with investors weighing concerns around inflation, energy prices and ongoing geopolitical tensions in the Persian Gulf.

Although investors have rotated back into risk assets such as AI and semiconductor stocks, demand for digital assets has remained subdued. CoinShares head of research James Butterfill said the trend may partly reflect a lack of progress on the CLARITY Act, a proposed US market structure bill for digital assets.

Crypto ETPs record another week of substantial outflows. Source: CoinShares

Separate data from blockchain intelligence company TRM Labs points to a slowdown in retail adoption. In April, TRM reported that global crypto adoption declined 11% in the first quarter, suggesting weaker participation despite continued institutional engagement in select areas of the market.