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 on-chain 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.
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