Bitget Elevates BGB to Cornerstone of Onchain Finance Future

Bitget has executed a significant structural shift for its native token, Bitget Blockchain (BGB), by designating it as the core gas and governance token of the Morph blockchain. In a landmark move, the company announced the transfer of all 440 million BGB tokens it controls to the Morph Foundation. Half of these tokens—220 million—were burned immediately in a single transaction, while the remaining 220 million were locked in an independent address and will be released gradually at a rate of 2% per month over the next 50 months. These funds will be allocated to liquidity incentives, ecosystem development, and educational initiatives to support Morph’s growth as a dedicated Layer 2 settlement platform for onchain consumer finance and payments.

The restructuring of BGB’s utility marks a pivotal evolution for the token. BGB will now play a central role in Morph’s infrastructure, powering gas fees, governance mechanisms, and settlement processes across the network. This transformation elevates BGB from a primarily exchange-based token—used for fee discounts and participation in launchpools—to a foundational asset for decentralized payment systems and consumer finance. The token’s integration with Morph’s ecosystem also aligns it with Bitget’s broader PayFi strategy, which seeks to connect 120 million Bitget users with Morph’s high-performance, low-cost infrastructure.

Bitget CEO Gracy Chen emphasized the significance of the partnership, stating that the move marks a “new chapter for BGB,” expanding its utility to include governance, payments, and applications across millions of users globally. The Morph Foundation, a decentralized non-profit, will oversee BGB’s long-term development, including the implementation of a burn mechanism tied directly to network activity. This will further reduce BGB’s total supply, aiming to bring it down to 100 million over time, thus creating scarcity and aligning its value with onchain usage.

The announcement has already generated a strong market response. BGB surged over 14% in the 24 hours following the news, with trading volumes spiking by 307% to nearly $290 million. Analysts attribute the surge to both the token’s deflationary mechanics and the expanded utility of BGB within a growing onchain consumer finance ecosystem. The token’s price has also broken key resistance levels, suggesting further upward potential if it sustains this momentum.

Bitget and Morph’s collaboration underscores a strategic alignment between the two entities. Bitget has positioned Morph as the backbone of its Web3 and PayFi initiatives, while Morph gains a robust user base and infrastructure support from Bitget and its wallet. This integration is expected to enhance the scalability and adoption of Morph’s network, as developers gain access to one of the largest onchain user bases in the world. Additionally, Morph’s technical upgrades—focused on performance, cost efficiency, and real-world consumer finance integration—position it to become a leading Layer 2 solution in the Web3 payments space.

The broader implications for the crypto industry include a shift toward more utility-driven tokens that are deeply integrated into onchain financial ecosystems. By anchoring BGB to Morph’s settlement layer, Bitget reinforces the token’s role beyond speculative trading and into practical, everyday use cases. This move also aligns with the broader trend of exchange tokens transitioning into infrastructure tokens, reflecting the maturation of the crypto market and the increasing convergence between centralized and decentralized finance.

Source:

[1] A New Era for Morph with BGB as the Native Token (https://morph.ghost.io/a-new-era-for-morph-with-bgb-as-the-native-token/)

[2] Bitget to Transfer 440 Million BGB to Morph Foundation (https://morph.ghost.io/morphing-with-bitget/)

[3] Next Crypto to Explode: Bitget Token’s Trading Volumes Explode After Announcing Big Token Burn (https://icobench.com/news/next-crypto-to-explode-bgb-tokens-trading-volumes-explode-after-announcing-big-token-burn/)

[4] Bitget Turns BGB Into Morph's Native Token After $220M Burn (https://coinpedia.org/news/bitget-turns-bgb-into-morphs-native-token-after-220m-burn/)

[5] The Morph Foundation has burned 220 million BGB and locked 220 million (https://www.chaincatcher.com/en/article/2203307)

[6] Bitget Token Soars 14% as Morph Chain Partnership Burns $1B BGB (https://www.banklesstimes.com/articles/2025/09/02/bitget-token-soars-14-as-morph-chain-partnership-burns-1b-bgb/)