Paxos Adds Dogecoin to Brokerage and Custody Platform

Paxos announced Monday that Dogecoin will be added to its brokerage and custody platform, making DOGE available across its infrastructure so fintech, payments and institutional clients can evaluate and potentially offer trading and custody services.

Paxos supplies crypto infrastructure to companies including PayPal, Venmo, Interactive Brokers and Mercado Libre. Those firms will not automatically begin offering DOGE trading or custody because Paxos added support; each client must decide independently whether to integrate the token into its products.

Dogecoin, the largest memecoin by market capitalization, stood at about $15.53 billion according to CoinMarketCap. The token often moves in line with broader crypto market sentiment, while institutional demand for DOGE remains smaller than for Bitcoin and Ether.

In January 2025, Grayscale launched the Grayscale Dogecoin Trust, a private vehicle for accredited investors seeking exposure to DOGE. Asset manager 21Shares received approval earlier this year to list a Dogecoin exchange-traded fund in the United States.

The Paxos announcement comes as crypto investment products have seen outflows. CoinShares reported crypto exchange-traded products had $1.67 billion in net outflows last week, the third consecutive week of withdrawals, and $4.21 billion in total outflows over that period. James Butterfill, head of research at CoinShares, suggested the trend ‘may partly reflect a lack of progress on the CLARITY Act.’

Blockchain intelligence firm TRM Labs reported an 11% decline in global crypto adoption in the first quarter, indicating lower retail participation.

Paxos stated the integration makes DOGE available for clients to test on its custody and brokerage stack; any client decision to offer DOGE trading or custody will follow their own review and any required regulatory approvals.