Bitget Unveils Upgraded BGBTC With Daily Rewards and Institutional-Grade Oversight
Bitget has upgraded its BGBTC yield-bearing Bitcoin asset to include daily BTC-denominated rewards, faster redemption for large withdrawals, enhanced transparency and an institutional-grade risk management framework.
The update aims to improve capital efficiency while allowing users to maintain exposure to Bitcoin. The exchange says the changes are intended to support growing demand for Bitcoin products that generate yield without limiting liquidity or restricting broader portfolio use.
BGBTC is fully backed 1:1 by Bitcoin and now distributes rewards on a daily basis in BTC. Bitget has also selected Chainlink's Cross-Chain Interoperability Protocol (CCIP) as the primary infrastructure for cross-chain transfers, building on its existing integration with Chainlink Proof of Reserve.
According to Gracy Chen, CEO of Bitget, 'Bitcoin has become one of the world's most important financial assets, but much of it still sits idle. The next stage isn't simply holding Bitcoin, it's making it productive.'