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.”