BitGo Joins Dogecoin Frenzy as Crypto Custody Firm Rolls Out a Wrapped Version

The announcement comes as DOGE surged 102% in October.

AccessTimeIconNov 2, 2022 at 1:00 p.m. UTC
Updated May 9, 2023 at 4:01 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

BitGo will be introducing wrapped dogecoin (wDOGE) to the Ethereum blockchain through a partnership with wDogeDAO, the crypto custody firm said Wednesday.

Wrapping dogecoin will mean that holders will be able to use their wDOGE tokens for decentralized applications (dapps) in the Ethereum ecosystem. All wDOGE is backed by a DOGE token, at a 1:1 ratio.

In addition, BitGo will provide hot wallets, qualified custody and self-managed custody for both DOGE and wDOGE by the end of the month.

The announcement comes after DOGE’s price rose 102% during October. Analysts attribute the big jump to the excitement behind the takeover of Twitter by Elon Musk, who has been a major booster of the popular meme coin.

DOGE is the sixth-largest cryptocurrency, with a market capitalization of about $19 billion, according to CoinDesk’s crypto price index.

BitGo Vice President of Product Nuri Chang told CoinDesk that dogecoin “holders, both large and small, are some of the most active in the crypto community.”

“The wDOGE bridge enables that activity to spread to Ethereum and the [Decentralized Finance] ecosystem,” Chang said.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Margaux Nijkerk

Margaux Nijkerk reports on the Ethereum protocol and L2s. A graduate of Johns Hopkins and Emory universities, she has a masters in International Affairs & Economics. She holds a small amount of ETH and other altcoins.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.