Morph Becomes Onchain Home for Bitget Token

Bitget will transfer 440M BGB to Morph Foundation, burning 220M tokens and locking the rest for gradual release.
BGB will become the gas and governance token of Morph’s Layer 2 blockchain, powering payments and onchain consumer finance.
Morph gains access to Bitget’s 120M+ users, consolidating trading, wallet, and payment infrastructure for global settlement.
Burn mechanism linked to network activity will reduce BGB supply to 100M, strengthening its scarcity and long-term value.

Bitget, the global cryptocurrency exchange and Web3 company, has unveiled a major initiative to strengthen the role of its native token BGB. In a strategic move announced today, the exchange revealed plans to transfer all 440 million BGB tokens under its control to the Morph Foundation, marking a significant milestone in the token’s evolution.

Half of BGB Supply Burned in Single Action

Of the total transfer, 220 million BGB will be permanently burned in a single action, reducing circulating supply and signaling a long-term commitment to scarcity-driven value. The remaining 220 million tokens will be locked and gradually released at 2% per month, designated to fund liquidity incentives, ecosystem expansion, and user education programs.

Bitget said this mechanism aligns BGB with Morph’s vision of building a high-performance payment-focused Layer 2 blockchain, while also increasing the token’s long-term relevance in decentralized consumer finance.

Morph Becomes Onchain Home for BGB

Morph, an EVM-compatible chain optimized for payments, will now serve as the native onchain home of BGB. Under this transition, BGB becomes the gas and governance token powering Morph’s ecosystem, which targets more than 120 million global users. The token will also play a central role in settlement and PayFi activities, operating alongside stablecoins to support real-world financial transactions.

Gracy Chen, CEO of Bitget, emphasized the shift: “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.”

Expanding Token Utility Across Ecosystems

Bitget noted that BGB will not only power the Morph network but also continue supporting existing exchange partnerships. The token is currently listed on Bitget, MEXC, and Bitfinex, and will remain central to features such as Launchpool participation, trading fee discounts, and token mining opportunities.

Meanwhile, Morph will integrate Bitget’s full infrastructure—including Bitget Wallet and trading services—directly into its Layer 2 chain. This integration aims to consolidate payment, trading, and decentralized application development around a single, scalable settlement hub.

Colin Goltra, CEO of Morph, said the partnership strengthens a long-standing relationship between the two companies. “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,” he noted.

Burn Mechanism Linked to Onchain Activity

Looking ahead, the Morph Foundation will independently manage BGB’s roadmap and future development. The organization will also tie the token’s burn mechanism directly to onchain activity until the total supply is reduced to 100 million.

This design introduces a usage-based feedback loop that links network growth with token scarcity, potentially amplifying BGB’s value as Morph scales its adoption.

Morph is Building Infrastructure for Web3 Payments

Morph remains focused on positioning itself as the next-generation Web3 payment infrastructure. Its roadmap includes integrations across wallets, stablecoins, and global payment providers, as well as direct support for developers and merchants.

Bitget Wallet CEO Karry Cheung said the initiative is designed to accelerate onchain adoption: “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.”

To catalyze developer participation, Morph will deploy its “Rails” framework, providing hackathons, builder programs, and funding support. Developers tapping into Morph will gain direct access to Bitget’s 120 million-strong user base, creating one of the largest potential audiences for decentralized payment applications.

Broader Implications for Consumer Finance

Bitget’s initiative reflects a growing industry trend toward using exchange-native tokens as multipurpose assets beyond trading platforms. By embedding BGB into Morph’s payment infrastructure, Bitget is positioning its token as a bridge between centralized exchange services and decentralized consumer finance ecosystems.

This strategy could transform BGB from a trading incentive token into a foundational asset powering payments, governance, and real-world settlements at scale.

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