Cryptocurrency exchange Bitget has officially transferred 440 million BGB tokens to Morph Foundation in a landmark move to strengthen their strategic partnership and reshape on-chain payment infrastructure.
The collaboration aims to expand the utility of BGB across multiple blockchain projects, elevating it to a key ecosystem token within the Web3 space.
As part of the agreement, all 440 million BGB tokens previously held by Bitget were moved to Morph Foundation. Of these, 220 million tokens were burned instantly to reduce supply and enhance long-term value. The remaining 220 million tokens are locked and will be gradually released at a monthly rate of 2%. These released tokens will be used to fund liquidity programs, develop use cases, and drive blockchain education initiatives.
With this partnership, BGB will evolve into the core token of the Morph network—serving as its native gas, governance, and payment token. The Morph chain will become the on-chain home for BGB and continue operating under its existing brand and leadership. The goal is to position Morph as a next-generation Web3 payments layer capable of supporting over 120 million users globally.
The partnership brings strategic advantages for developers and users alike. Projects building on Morph will gain access to Bitget’s ecosystem and Bitget Wallet’s expansive user base. The collaboration will also fuel hackathons, builder support programs, and broader adoption efforts through the Morph Rails infrastructure. The Morph Foundation will take over BGB’s long-term development, including updating its burn mechanism to reflect real-time network activity.
Leadership from all three entities voiced enthusiasm for this new chapter. Bitget CEO Gracy Chen described the partnership as a “new chapter” for BGB, while Bitget Wallet CEO Karry Cheung highlighted the token’s on-chain future with Morph. Morph CEO Colin Goltra emphasized Morph’s role as the new hub for Bitget’s Web3 initiatives and its commitment to supporting millions of BGB token holders worldwide.
