Bitget, a leading cryptocurrency exchange and Web3 solutions provider, has announced the merger of its two native tokens – Bitget Token (BGB) and Bitget Wallet Token (BWB). The move comes in response to strong community demand and aims to consolidate both tokens into a single utility token, BGB. This unified token will power the entire Bitget ecosystem and span both its exchange and wallet services.
Bitget is one of the world’s top three centralized exchanges (CEXs) by trading volume and offers a full range of services including pre-market, spot, margin and futures trading. Bitget Wallet is now one of the most widely used Web3 wallets with over 60 million users spread across the major Layer 1 and Layer 2 ecosystems. Together, the exchange and wallet serve more than 100 million users worldwide, making Bitget the second largest CEX ecosystem in the world.
Improving supply and ecosystem integration
The merger aims to strengthen the utility and scope of BGB within the Bitget ecosystem. Post-merger, BGB will play a pivotal role in supporting decentralized applications (DApps) and become a key asset in blockchain ecosystems. Its applications will extend to staking in DeFi protocols, decentralized lending platforms, and providing essential services in Bitget Wallet such as: B. Fair Launchpool and multi-chain gas fee payments.
Additionally, BGB will explore real-world use cases and enable payments for food, travel, shopping, fuel, and other daily transactions through Bitget’s Web3 PayFi services. This move is expected to provide users with a seamless experience by connecting decentralized…
