Quick Read:
- Bitget will transfer all BGB tokens that it controls, 440 million in total, to the Morph Foundation, with 220 million burned immediately and the remaining 220 million locked with gradual release to support ecosystem growth.
- The Morph Foundation will oversee BGB as the gas and governance token of Morph, powering payments and utility across the layer.
- Bitget and Bitget Wallet’s 120 million users will gain direct access to the innovative decentralized protocols built on Morph fueled by BGB.
- Major technical upgrades to Morph’s infrastructure will deliver higher performance, lower fees, and prepare the layer to scale as a top settlement platform for payments and onchain consumer finance.
Bitget, the leading cryptocurrency exchange and Web3 company, is excited to share its strategic collaboration with its trusted ecosystem project Morph, the EVM layer for payments and onchain consumer finance. The duo has signed up to boost BGB’s utility across a multitude of projects.
With this partnership, Bitget will transfer all BGB tokens that it controls, 440 million in total, to the Morph Foundation.
Half of this allocation, 220 million BGB, will be burned in a single action, while the remaining 220 million BGB tokens will be locked and released at 2% per month to fund liquidity incentives, use case expansion, and education.
Morph will become the native onchain home of BGB and serve as the core settlement layer for more than 120 million users worldwide, with BGB established as the gas and governance token of an improved high-performance network.
Building the Standard for Onchain Payments
The Morph chain will maintain its brand, team, and strategic direction, staying focused on its positioning as a Layer 2 dedicated to crypto payments, and striving to become the next-generation Web3 payment infrastructure, advancing beyond cost efficiency and performance toward real-world consumer finance at scale, with integrations across wallets, DeFi, stablecoins, and global payment providers.
“With this commitment to the Morph Foundation, BGB is entering a new chapter as the gas and governance token of Morph. This upgrade expands BGB into the utility token for the next era of onchain consumer finance, powering payments, applications, and the broader settlement layer for millions of users worldwide,” said Gracy Chen, CEO of Bitget.
Expanding BGB with Morph
BGB will become the primary token of Morph’s blockchain, serving as the gas, governance, and payment token across the layer.
Settlement and PayFi activity will run through BGB alongside stablecoins, giving it a central role in powering the Morph network.
Meanwhile, BGB will continue to collaborate with existing partners, including Bitget, MEXC, and Bitfinex, where BGB is already listed, and others beyond these exchanges, serving as a key medium for Launchpool’s new token mining, fee discounts, and more.
Moving forward, The Morph Foundation, a decentralized non-profit organisation, will be solely responsible for BGB’s long-term development roadmap, co-building the ecosystem with the community. It will also update BGB’s burn mechanism to link directly to the Morph network activity until the total supply is reduced to 100 million.
“Morph has always had a close relationship with Bitget since its founding. There are projects we have always dreamed of collaborating on, but much of our growth so far has been autonomous. Through this strategic initiative, we are excited for Morph to become the home of Bitget’s onchain initiatives and to support the millions of BGB holders around the world.” Colin Goltra, CEO of Morph, added.
Growing Decentralized Ecosystem at Scale
To support the long-term prosperity of Morph, Bitget and Bitget Wallet will bring their full infrastructures directly into Morph, consolidating payment, trading, and ecosystem services around the chain. This includes native support for stablecoin issuers, regional currencies, and global payment providers, giving developers and merchants an unmatched foundation to build decentralized payment-focused applications at scale.
Morph Rails will serve as the backbone of this expansion, powering hackathons, builder programs, and direct support for new projects. Developers building on Morph will gain access to Bitget’s and Bitget Wallet’s base of more than 120 million users, connecting their applications with one of the largest onchain audiences in the world. With Bitget’s backing, Morph is positioned to become the settlement hub for the next generation of PayFi and consumer finance.
“BGB has found its home onchain with Morph, marking a new chapter in its journey. We are thrilled to invite millions of users to experience BGB and find utility in entirely new ways. Over the next 12 months, we will see an acceleration of BGB migration onto Morph Layer and deeper partnerships between Morph and Bitget Wallet to enable seamless web3 payments and onchain consumer finance,” said Karry Cheung, CEO of Bitget Wallet.
