Bitget, a leading cryptocurrency Exchange and Web3 Company, is excited to share its strategic collaboration with trusted ecosystem project MORPH, the EVM layer for payments, Onchain Consumer Finance. The duo signed up to boost BGB utilities on numerous projects.
With this partnership, Bitget will transfer all BGB tokens to the Morph Foundation, which control a total of 440 million people. Half of this allocation, 220 million BGB, is burned in a single action, with the remaining 220 million BGB tokens locking and release at 2% per month, funding liquidity incentives, expanding use cases and education. Morph will become BGB’s native on-chain home, serving as the core payment layer for over 120 million users worldwide, and BGB will be established as a gas and governance token for improved, high-performance networks.
Build standards for on-chain payments
The Morph chain focuses on positioning as a Layer 2 dedicated to crypto payments, maintaining brand, team and strategic direction, striving for the next generation of Web3 payment infrastructure, moving beyond cost-effectiveness and performance to advance towards real-world consumer finance at scale, and integrates through Wallet, Defi, Stablecoins, and Global Paymenters.
“This commitment to the MORPH Foundation will allow BGB to enter a new chapter as a token of Morph’s gas and governance. This upgrade will expand BGB to utility tokens in the next era of Onchain Consumer Finance, expanding the power of payments, applications and the broader payment layer for millions of users around the world.
Enlarge BGB with morphs
BGB will become the main token of Morph’s blockchain, serving as gas, governance and payment tokens throughout the layer. Payment and PAYFI activities run through BGB along with Stablecoins and play a central role in providing power to the MORPH network. Meanwhile, BGB will continue to work with existing partners, including BITGET, MEXC and BITFINEX. BGB is already listed and beyond these exchanges will serve as an important medium for new token mining, fee discounts and more for LaunchPool.
Moving forward, the decentralized nonprofit Morph Foundation will take sole responsibility for BGB’s long-term development roadmap and jointly build a community and ecosystem. We will also update the BGB burn mechanism to link directly to MORPH network activity until the total supply drops to 100 million.
“Morph has always had a close relationship with Bitget since its founding. There are projects we have always dreamed of working together, but much of the growth we have so far been autonomous. Through this strategic initiative, Morph is excited to become the home of Biteg’s Onshain initiative and support millions of BGB holders around the world,” added Colin Goltra, CEO of Morph.
An increase in large-scale decentralized ecosystems
Bringing full infrastructure directly to the morphs to support the long-term prosperity of morphs, bitgets and bitget wallets, integrating payments, trading and ecosystem services around the chain. This includes native support for Stablecoin publishers, local currencies, and global payment providers, providing developers and merchants with an unparalleled foundation for building applications focused on decentralized payments of scale.
Morph Rails acts as the backbone of this expansion, bringing out the power of hackathons, builder programs and directly support new projects. MORPH builders access the Bitget and Bitget Wallet base of over 120 million users, connecting applications to one of the world’s largest Onchain audiences. With support from Bitget, Morph is positioned to be the payment hub for the next generation of Payfi and Consumer Finance.
“BGB is discovering home-on-chains in the morph, marking a new chapter in the journey. We are excited to invite millions of users to experience BGB and find utility in a whole new way: Bitget Wallet.
About Bitget
Founded in 2018, Bitget is the world’s leading cryptocurrency exchange and web 3 company. Serving more than 120 million users in over 150 countries and territories, Bitget Exchange is committed to helping users trade smarter with pioneering copy trading capabilities and other trading solutions, offering real-time access to Bitcoin prices, Ethereum prices and other cryptocurrency prices. Bitget Wallet is the leading non-resistant crypto wallet that supports over 130 blockchains and millions of tokens. It offers direct access to multi-chain trading, staking, payments and over 20,000 DAPPs, with advanced swap and market insights built into a single platform.
Bitget promotes the adoption of crypto through strategic partnerships, including its role as the official crypto partner for the world’s top football leagues, Lariga, Eastern, Sea and Ratum markets. In line with our global impact strategy, Bitget will work with UNICEF to support 1.1 million blockchain education by 2027. In the world of Motorsports, Bitget is the exclusive cryptocurrency exchange partner for one of the world’s most thrilling championships, MotoGP™.
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About BitGet Wallet
Bitget Wallet is an unlawful crypto wallet designed to make cryptography simple and secure for everyone. With over 80 million users, it brings together a complete set of crypto services including swap, market insights, staking, rewards, DAPP exploration, and payment solutions. Supporting over 130 blockchains and millions of tokens, the Bitget wallet enables seamless multi-chain transactions across hundreds of DEX and cross-chain bridges. Supported by a user protection fund of over $300 million, it ensures the highest level of security of your assets. That vision is a code for everyone. For a billion people, it’s about making cryptography simpler, safer and part of everyday life.
About Morph
Morph is the next generation layer 2 designed for Onchain Consumer Finance. It uses products such as Morph Pay and Morph Rails, a developer consumer who enhances seamless services across payments, savings, identity and rewards, and shapes the financial infrastructure of the digital economy.
