Bitget Transfers 440 Million BGB to Morph Foundation
September 2, 2025 – SEYCHELLES – Bitget, a leading global cryptocurrency exchange and Web3 company, has announced a landmark move that will accelerate the role of BGB as the gas and governance token of the Morph chain. In a major step for its ecosystem strategy, Bitget will transfer all 440 million BGB tokens under its control to the Morph Foundation.
As part of the transfer, 220 million BGB will be permanently burned, reducing supply immediately, while the remaining 220 million BGB will be locked and gradually released at 2% per month. These tokens will fund ecosystem development, liquidity incentives, and educational initiatives to drive adoption.
This transition establishes Morph as the onchain home of BGB, making it the primary settlement and governance token for payments, decentralized finance (DeFi), and consumer financial applications.
BGB Becomes the Core of Morph Chain
The collaboration between Bitget and Morph aims to strengthen the blockchain’s role as a Layer 2 solution dedicated to payments and onchain consumer finance. With Bitget’s global reach of more than 120 million users, the integration will provide widespread access to decentralized protocols powered by BGB.
Morph will maintain its own brand and team but position itself as a next-generation Web3 payment infrastructure, scaling beyond performance and cost efficiency to real-world consumer finance. The chain will integrate with wallets, stablecoins, DeFi platforms, 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,” said Gracy Chen, CEO of Bitget. “This upgrade expands BGB’s role in powering payments, applications, and the broader settlement layer for millions of users worldwide.”
Expanding Utility for BGB
Once integrated into Morph, BGB will serve as gas, governance, and payment token across the blockchain. It will be used for settlements, PayFi activity, and transaction fees alongside stablecoins.
BGB will also continue to support existing partnerships with exchanges such as Bitget, MEXC, and Bitfinex, where it is already listed, offering benefits like Launchpool access, fee discounts, and token mining opportunities.
The Morph Foundation, a decentralized non-profit, will oversee BGB’s long-term roadmap. It plans to revise the burn mechanism, linking it directly to network activity until total supply is reduced to 100 million BGB.
“Through this strategic initiative, Morph will become the home of Bitget’s onchain projects and support millions of BGB holders worldwide,” added Colin Goltra, CEO of Morph.
Building a Scalable Ecosystem
Bitget and Bitget Wallet will integrate their full infrastructures into Morph to consolidate payments, trading, and ecosystem services. This includes:
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Native support for stablecoins and regional currencies
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Partnerships with global payment providers
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Developer support via Morph Rails, including hackathons and builder programs
With Bitget Wallet’s 80M+ users and exchange reach of 120M+ users, developers building on Morph will gain access to one of the largest onchain user bases worldwide.
“BGB has found its onchain home with Morph. Over the next 12 months, we’ll see BGB migration accelerate and deeper partnerships with Bitget Wallet, enabling seamless Web3 payments and consumer finance,” said Karry Cheung, CEO of Bitget Wallet.
About Bitget
Founded in 2018, Bitget is one of the world’s largest cryptocurrency exchanges and Web3 companies, serving 120M users across 150+ countries. The platform is best known for its copy trading innovation, advanced trading solutions, and strong security protections, including a $300M user protection fund.
Bitget is also active in global partnerships, including as the Official Crypto Partner of LALIGA in key markets, a supporter of UNICEF blockchain education programs, and the exclusive crypto partner of MotoGP™.
About Bitget Wallet
Bitget Wallet is a non-custodial multi-chain wallet trusted by 80M+ users. Supporting over 130 blockchains and millions of tokens, it offers trading, staking, payments, and DApp exploration. Its vision, “Crypto for Everyone,” aims to make digital assets secure, accessible, and part of everyday life.
About Morph
Morph is a next-generation Layer 2 blockchain built for onchain consumer finance, powering services in payments, savings, rewards, and identity. With Morph Pay for consumers and Morph Rails for developers, it provides the foundation for scalable Web3 financial applications.
