NAIROBI, Kenya— In a sweeping change to its token strategy, crypto exchange Bitget has transferred its entire reserve of 440 million BGB tokens to the Morph Foundation.
The shift is designed to establish BGB as both the governance and gas token powering the Morph blockchain.
As part of the new framework, half of the tokens 220 million will be permanently burned. The other 220 million will be placed under lock and released slowly, with 2 percent issued each month.
These tokens will be used to strengthen liquidity, support community education, and accelerate new real-world applications within the ecosystem.
The Morph Foundation is now tasked with overseeing the token’s expanded functions.
Beyond handling transactions, BGB will serve as a core driver for payments and decentralized applications operating on Morph’s network.
Over time, the foundation will also link the token’s burning process directly to network activity, reducing circulating supply until only 100 million tokens remain.
“With this commitment to the Morph Foundation, BGB is entering a new chapter as the gas and governance token of Morph,” said Bitget CEO Gracy Chen.
She added, “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.”
The move is also expected to deepen integration between Morph and Bitget’s existing platforms.
Bitget and Bitget Wallet, together serving 120 million users will now be directly connected to decentralized services on Morph.
This positions the blockchain as a key contender in the race to build next-generation Web3 payment infrastructure.
To reinforce this transition, Bitget and Morph will align their systems to deliver a unified framework for payments, trading, and community-driven growth.
A core part of this plan is to bring in stablecoin issuers, local currencies, and international payment providers, encouraging them to create decentralized applications centered around seamless digital payments.
With this handover, Bitget signals not just a reallocation of tokens but a reimagining of BGB’s purpose transforming it into a long-term engine for Web3 adoption and decentralized finance.
