Bitget Boosts Capital Efficiency with BGBTC Upgrade
Bitget, the world's largest Universal Exchange (UEX), has upgraded its official yield-bearing Bitcoin asset BGBTC to include daily BTC-denominated rewards. The upgrade also introduces large-volume fast redemption and institutional-grade risk oversight.
The update uses Chainlink's Cross-Chain Interoperability Protocol (CCIP) as its canonical cross-chain infrastructure, building upon its existing use of Chainlink Proof of Reserve. BGBTC is fully backed 1:1 by Bitcoin and allows users to earn daily BTC-native rewards while maintaining access to a growing range of use cases across the Bitget ecosystem.
Gracy Chen, CEO of Bitget, said 'The next stage isn't simply holding Bitcoin, it's making it productive. We see capital efficiency becoming one of the defining themes of digital asset markets.'
The upgrade also introduces Bitget's independent Curator framework, adding a new layer of institutional-grade oversight to BGBTC's underlying yield strategies.