Dogecoin Labs has brought the MyDoge wallet, DogeOS app platform, and Such App payment product together in a single independent organization, aiming to grow DOGE’s utility beyond Elon Musk’s comments.
According to The Block, the new organization launched in partnership with the Dogecoin Foundation. Led by CEO Jordan Jefferson, Dogecoin Labs will focus on expanding the use of DOGE across consumer apps, payments, commerce, decentralized finance, and gaming.
Earlier this year, Jefferson also said they were working on teams, investments, and applications that would reduce Dogecoin’s reliance on Musk’s public expressions of support. In line with this approach, the new organization brings the existing products together under the same management.
A wallet with more than 500,000 users joins the organization
Each of the combined products focuses on a different need:
- MyDoge: A DOGE wallet with more than 500,000 users, according to a press release.
- DogeOS: An app platform that aims to connect developers with DOGE holders; its public testnet, compatible with the EVM infrastructure used by Ethereum applications, opened on September 30.
- Such App: A product developed by House of Doge and Brag House that offers businesses invoicing and in-person QR code payment tools.
While Dogecoin Labs works to expand use cases through these products, the Dogecoin Foundation will continue overseeing the ecosystem and supporting open-source development.
A different approach to demand that has not translated into ETF interest
The move comes at a time when Dogecoin is struggling to generate lasting demand through traditional investment products. Bitwise announced plans to close its Dogecoin ETF in September.
Bitwise CEO Hunter Horsley said the fund’s failure highlighted the difference between crypto ETF investors and those who use crypto trading apps. Dogecoin Labs, by contrast, is focused on expanding the ways people can pay with DOGE and use it in apps, rather than presenting it solely as an investment product.
Not investment advice.