Bitget Unlocks Active Bitcoin Yield with Upgraded BGBTC

Bitget has upgraded its yield-bearing Bitcoin asset, BGBTC, to offer daily BTC rewards and faster redemptions. The upgrade also selects Chainlink's Cross-Chain Interoperability Protocol (CCIP) as the main cross-chain infrastructure for BGBTC.

BGBTC is backed 1:1 by Bitcoin and distributes daily rewards denominated in BTC. This allows users to maintain exposure to Bitcoin while earning a return generated through the product's underlying strategies.

The asset has multiple uses beyond passive holding, including serving as futures margin, lending collateral, and an eligible asset for Launchpool and PoolX. This flexibility changes the economic role of BTC on the platform, making it working capital that can be deployed elsewhere within the Bitget ecosystem.