Bitget’s BGB Becomes Central to Morph Payments and Governance System

Bitget has announced a major partnership with Morph, confirming that the Morph Chain will adopt $BGB as both its gas and governance token. The move transfers all 440 million $BGB tokens held by Bitget to the Morph Foundation, marking a change in how the token will be managed and used.

Half of the allocation, 220 million tokens, will be burned immediately. The other half will be vested at 2% per month over 50 months, funding liquidity incentives, new use cases, and educational programs. With this agreement, $BGB is now the official onchain currency of Morph, a Layer 2 blockchain built for payments and consumer finance.

Why $BGB Moves to Morph

Morph Chain was designed as an EVM-compatible Layer 2 with a focus on payments. By adopting $BGB as its gas and governance token, Morph integrates directly with Bitget’s existing 120 million users.

The decision reflects several key motivations:

• Gas and governance: $BGB now powers transactions and protocol decision-making across Morph.
• Deflationary supply: 220 million tokens burned in one action, reducing supply.
• Ecosystem funding: Remaining tokens released gradually to support builders, liquidity, and community adoption.
• Settlement role: BGB becomes central to PayFi activity alongside stablecoins, giving it a dual role in payments and governance.

Bitget CEO Gracy Chen said the partnership positions BGB as the utility token for onchain consumer finance:

“This upgrade expands BGB into powering payments, applications, and the broader settlement layer for millions of users worldwide.”

Morph Maintains Its Direction

Despite adopting $BGB, Morph will continue to operate independently with its own team, branding, and strategy. Its focus remains on scaling payment infrastructure for crypto and consumer finance.

That includes:

• Wallet integrations for everyday transactions.
• Links with DeFi and stablecoins for liquidity.
• Partnerships with global payment providers.

Morph CEO Colin Goltra added:

“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,” 

Tokenomics and Scarcity

The transfer comes amid broader changes to BGB’s tokenomics.

• In Q2 2025, Bitget burned 30,001,053 BGB worth about $138 million, cutting supply by 2.56%.
• Over the past eight months, 860 million tokens—43% of the total—have been burned.
• With a hard cap of 1.14 billion BGB, the supply reduction aligns with Bitget’s long-term deflationary model.

The Morph Foundation will now update BGB’s burn mechanism to link directly to Morph network activity. Supply is expected to eventually decline to 100 million tokens.

Institutional and Technical Support

Bitget has recently taken steps to reinforce institutional trust in $BGB.

• It integrated Chainlink’s Proof of Reserve (PoR) for Wrapped Bitcoin (BGBTC), enabling real-time verification of reserves.
• In July 2025, Bitget joined the Global Markets Alliance led by Ondo Finance, expanding its focus on tokenized real-world assets (RWAs). The alliance allows Bitget’s users access to tokenized U.S. stocks, ETFs, and money market funds.

These moves show a focus on bridging traditional finance with Web3, complementing Morph’s role in scaling consumer payments.

Building Out Morph’s Ecosystem

The partnership is also about developer and user adoption. Bitget and Bitget Wallet will integrate directly into Morph, consolidating infrastructure for payments and trading.

Key initiatives include:

• Stablecoin support: Bringing regional and global currencies onchain.
• Developer programs: Hackathons and builder support through Morph Rails.
• User base expansion: Direct access to Bitget’s 120 million users.

Karry Cheung, CEO of Bitget Wallet, said:

“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,” Karry Cheung, CEO of Bitget Wallet, said. “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.”

Conclusion

Bitget’s transfer of 440 million $BGB to the Morph Foundation marks a structural shift for both the token and Morph Chain. With half the tokens burned and the rest distributed gradually, the supply has tightened while ensuring ecosystem funding.

Morph gains a settlement layer with $BGB at its core, while Bitget strengthens its decentralized positioning. Together, they aim to make Morph the primary onchain hub for payments and consumer finance, with $BGB as the central utility token.

Resources:

1. Bitget’s press release: https://www.globenewswire.com/news-release/2025/09/02/3142648/0/en/Bitget-to-Transfer-440-Million-BGB-to-Morph-Foundation-Accelerating-BGB-as-Gas-and-Governance-Token-of-Morph-Chain.html

2. Bitget’s announcement’s of adopting Chainlink’s proof reserve: https://www.bitget.com/blog/articles/bitget-chainlink-proof-of-reserve-bgbtc-2025#c

3. Press Release: Bitget Joins Ondo’s Global Markets Alliance: https://www.globenewswire.com/news-release/2025/07/17/3116938/0/en/Bitget-Joins-Ondo-s-Global-Markets-Alliance-to-Expand-Global-Access-to-Over-Hundred-Tokenized-RWAs.html