On September 2, 2025, Seychelles-based cryptocurrency exchange and Web3 company Bitget announced a strategic collaboration with Morph, an EVM Layer 2 built for payments and onchain consumer finance. Under the agreement, Bitget will transfer all 440 million BGB tokens under its control to the Morph Foundation. Half of this allocation (220 million BGB) will be burned immediately, while the remaining 220 million BGB will be locked and released at 2% per month to fund liquidity incentives, use case expansion, and education. This move officially establishes BGB as the native gas and governance token of the Morph chain, powering payments, applications, and settlement across the layer.
Key Highlights
- Bitget transfers 440 million BGB to the Morph Foundation; 220 million burned immediately, 220 million locked with gradual release.
- BGB becomes the gas, governance, and payment token of Morph, driving all onchain activity.
- Bitget and Bitget Wallet's 120 million users will gain direct access to decentralized protocols built on Morph.
- Major technical upgrades to Morph's infrastructure will deliver higher performance and lower fees, positioning the chain as a top settlement platform for payments and onchain consumer finance.
Morph Chain: A Layer 2 Dedicated to Onchain Payments
Morph will maintain its brand, team, and strategic direction as a Layer 2 focused on crypto payments, striving to become next-generation Web3 payment infrastructure. Its goal is to advance beyond cost efficiency toward real-world consumer finance at scale, integrating wallets, DeFi, stablecoins, and global payment providers. Gracy Chen, CEO of Bitget, commented: “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, powering payments, applications, and the broader settlement layer for millions of users worldwide.”
Expanding BGB's Role with Morph
BGB will serve as the primary token of the Morph blockchain, functioning as 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. BGB will continue to collaborate with existing exchange partners such as Bitget, MEXC, and Bitfinex, where BGB is already listed. It will also serve as a key medium for Launchpool new token mining, fee discounts, and more. The Morph Foundation, a decentralized non-profit, will be solely responsible for BGB's long-term development roadmap. It will also update BGB's burn mechanism to link directly to Morph network activity until the total supply is reduced to 100 million.
Scaling the Ecosystem: Morph Rails and 120M User Base
To support Morph's long-term prosperity, Bitget and Bitget Wallet will bring their full 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. Morph Rails will serve as the backbone, powering hackathons, builder programs, and direct support for new projects. Developers building on Morph will gain access to Bitget and Bitget Wallet's base of more than 120 million users, connecting their applications with one of the largest onchain audiences in the world. Karry Cheung, CEO of Bitget Wallet, stated: “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.”
This collaboration marks a pivotal shift in BGB's tokenomics, transforming it from an exchange token into a native blockchain asset with expansive utility in payments and DeFi.