Bitget Upgrades BGBTC with Bitcoin Rewards and Enhanced Flexibility

Bitget has upgraded its yield-bearing Bitcoin asset BGBTC to offer daily rewards in Bitcoin and increased flexibility for users. The upgrade includes adopting Chainlink's Cross-Chain Interoperability Protocol (CCIP) for cross-chain distribution, allowing users to move their BGBTC across blockchains with greater transparency.

The product remains fully backed 1:1 by Bitcoin, making it an attractive option for users who want to earn returns on BTC while keeping it available for other uses on the platform. Bitget has also introduced a curator model to oversee yield strategies and separate them from custody of the underlying Bitcoin.

Gracy Chen, CEO of Bitget, stated that 'Bitcoin has become one of the world's most important financial assets, but much of it still sits idle.' She emphasized that the next phase for the market is not simply ownership, but more productive use of holdings. The upgrade shows how exchanges are trying to reframe Bitcoin from a passive store of value into collateral that can circulate across several financial uses at once.