Bitget and Morph Forge Strategic Alliance, Upgrading BGB to Power the Future of Onchain Payments

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Bitget, a leading cryptocurrency exchange, is making a monumental move by transferring all 440 million of its BGB tokens to the Morph Foundation. This strategic collaboration is set to redefine BGB’s utility, with half of the tokens to be burned immediately, and the rest to be used for ecosystem growth, establishing BGB as the native onchain home for millions of users.

PRESS RELEASE

Bitget to Transfer 440 Million BGB to Morph Foundation, Accelerating BGB as Gas and Governance Token of Morph Chain

Manila, Philippines —– 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.

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About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform. Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist), and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

About Bitget Wallet

Bitget Wallet is a non-custodial crypto wallet designed to make crypto simple and secure for everyone. With over 80 million users, it brings together a full suite of crypto services, including swaps, market insights, staking, rewards, DApp exploration, and payment solutions. Supporting 130+ blockchains and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges. Backed by a $300+ million user protection fund, it ensures the highest level of security for users’ assets. Its vision is Crypto for Everyone — to make crypto simpler, safer, and part of everyday life for a billion people.

About Morph

Morph is a next-generation Layer 2 designed for onchain consumer finance. It powers seamless services across payments, savings, identity, and rewards, with products like Morph Pay for consumers and Morph Rails for developers forming the financial infrastructure of the digital economy.

Benefits

  • Enhanced Token Utility: BGB’s use case expands dramatically from being an exchange token to becoming the core gas and governance token of a blockchain.
  • Significant Supply Shock: The immediate burn of 220 million BGB tokens creates a deflationary effect, potentially increasing the value of remaining tokens.
  • Increased Decentralization: The transfer of control to the decentralized Morph Foundation gives BGB a community-driven development roadmap.
  • Massive User Integration: Over 120 million users from Bitget and Bitget Wallet gain direct access to the Morph ecosystem, boosting network activity.
  • Accelerated Ecosystem Growth: Locked BGB tokens will fund liquidity incentives, use case expansion, and education, driving the development of new projects on Morph.
  • Improved Onchain Infrastructure: Bitget and Bitget Wallet will bring their full infrastructure, including stablecoins and global payment providers, to the Morph chain.
  • Positions BGB for the “Next Era of Onchain Finance”: The partnership positions BGB as a key player in the growing consumer finance and payments sector.
  • Developer Opportunities: Developers building on Morph gain access to a massive user base and support programs like hackathons.
  • Strengthens Brand Trust: A transparent token burn and a long-term roadmap build greater trust with the community and investors.
  • Creates a New Standard: The collaboration sets a precedent for how exchange tokens can evolve into core assets of a separate, independent blockchain.

Insights

  • A strategic partnership with a Layer 2 blockchain provides a powerful way for a centralized exchange to expand its influence into the decentralized world.
  • By making its token the gas token of a Layer 2, Bitget is ensuring its token has a real, fundamental utility beyond exchange-specific benefits.
  • The decision to burn a significant portion of the tokens upfront is a strong signal of long-term commitment and a move to enhance the token’s value.
  • The transfer of control to an independent foundation is a key step towards decentralization and community-led governance.
  • The partnership strategically targets the burgeoning “PayFi” (payment finance) and onchain consumer finance sectors, a major growth area in Web3.
  • Leveraging a massive user base (120M+) is a critical advantage for bootstrapping a new blockchain ecosystem and attracting developers.
  • The integration of existing infrastructure from Bitget and Bitget Wallet makes it easier for new users and developers to interact with the Morph chain.
  • This move reflects a growing trend where centralized entities are seeking to build bridges to decentralized ecosystems for greater utility and reach.
  • The phased release of the remaining locked tokens ensures a steady, controlled funding stream for long-term ecosystem development.
  • The new burn mechanism tied to network activity creates a direct link between the token’s value and the chain’s organic growth and adoption.

Conclusion

Bitget’s historic transfer of 440 million BGB to the Morph Foundation is a strategic masterstroke that fundamentally redefines its token’s future. By making BGB the gas and governance token of the Morph chain, Bitget is not just expanding its utility but also laying the groundwork for a new era of onchain consumer finance. This collaboration, marked by a massive token burn and the integration of a vast user base, demonstrates a powerful commitment to decentralization and a forward-looking vision for the entire Web3 ecosystem. The partnership positions BGB as a core asset for payments and applications, solidifying both Bitget’s and Morph’s roles as pioneers in shaping the future of decentralized finance.

Key Phrases

  • Bitget Morph partnership
  • BGB token transfer
  • Onchain consumer finance
  • Gas and governance token
  • 440 million BGB burn
  • Web3 payments infrastructure
  • Bitget Wallet integration
  • Morph Foundation
  • PayFi settlement layer
  • Decentralized ecosystem

Best Hashtags

  • #Bitget
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  • #Morph
  • #Crypto
  • #Blockchain
  • #Web3
  • #Tokenomics
  • #DeFi
  • #OnchainPayments
  • #CryptoNews

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