Bitget: Expanding BGB’s Role Across DeFi and Offline Payments

Leveraging BGB as a key asset, the integration seeks to consolidate the Bitget and Bitget Wallet ecosystems.

Announcing the merger of BWB (Bitget Wallet Token) and BGB (Bitget Token), Bitget marks a pivotal moment in its platform ecosystem. Following this integration, BGB will become the sole ecosystem token for both Bitget Wallet and Bitget, aiming to enhance value for its users.

This announcement coincides with a surge in BGB's market performance. At the time of writing, BGB is trading at $6.77, reflecting a 24.67% increase over the last 24 hours. Its trading volume has also soared by 268.47%, reaching $1.29 billion, surpassing that of Binance Coin (BNB).

Bitget announces the merger of Bitget Wallet Token (BWB) and Bitget Token (BGB)

Learn more: https://t.co/JzJpjuPMaq pic.twitter.com/ViLgdqAw8n

— Bitget (@bitgetglobal) December 26, 2024

Expanding BGB's Role in DeFi and Offline Payments

This integration aims to unify the Bitget and Bitget Wallet ecosystems by utilizing BGB as a key asset. Previously, Bitget Wallet debuted BWB with a total supply of 1 billion tokens allocated specifically for BGB and USDT holders via Bitget's Launchpad platform.

Now, upon completion of this merger, BGB's utility will expand significantly. It will be integrated into top-tier DeFi ecosystems and major public blockchains, enabling on-chain trade services and gradually becoming a central staking asset for mainstream lending and staking protocols.

Furthermore, BGB will seamlessly interact with Bitget Wallet, facilitating multi-chain gas fee payments and the Fair Launchpool. In the future, Bitget plans to extend BGB's use cases to offline PayFi platforms, starting in 2025.

This initiative will serve to bridge Web3 with traditional finance and consumer products by enabling users to make seamless payments in everyday scenarios like dining, traveling, recharging, and shopping.

Being a top-30 cryptocurrency by market capitalization, BGB enjoys excellent liquidity and strong community support, bolstering its status as a leading exchange platform token.

Meanwhile, Bitget's global endeavors continue to amplify. In a recent collaboration with TRON, the platform acquired $10 million worth of TRX to support blockchain research and ecosystem development. According to CNF, this alliance enhances DeFi solutions and on-chain payment methods while bolstering TRON's global presence.

Additionally, having secured a Bitcoin Service Provider license in El Salvador, Bitget is strategically positioned in one of the most crypto-friendly nations. As reported earlier, the exchange plans to establish a local team and pursue a Digital Asset Service Provider license, strengthening its presence in El Salvador's burgeoning crypto scene.