Bitget, a leading cryptocurrency exchange and Web3 company, has partnered with Morph, an EVM layer for payments and on-chain consumer finance, to enhance BGB’s utility in various projects. Bitget will transfer 440 million BGB tokens, with 220 million burned in a single action and the remaining 220 million locked and released at 2% per month for liquidity incentives, use case expansion, and education. Morph will become the native on-chain home of BGB, serving as the core settlement layer for over 120 million users worldwide, with BGB established as the gas and governance token of an improved high-performance network.
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 on-chain consumer finance, powering payments, applications, and the broader settlement layer for millions of users worldwide,” said Gracy Chen, CEO of Bitget.
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 collaborating 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 on-chain initiatives and support the millions of BGB holders worldwide.” Colin Goltra, CEO of Morph, added.
To support the long-term prosperity of Morph, Bitget and Bitget Wallet will bring their complete 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 be the backbone of this expansion, powering hackathons and builder programs and providing 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 on-chain audiences in the world. With Bitget’s backing, Morph will become the next generation of PayFi and a consumer finance settlement hub.
“BGB has found its home on-chain with Morph, marking a new chapter in its journey. We are thrilled to invite millions of users to experience BGB and find utility in 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 on-chain consumer finance,” said Karry Cheung, CEO of Bitget Wallet.
