Bitget has announced the combination of BWB (Bitget Wallet Token) and BGB, which represents a key milestone in the platform’s ecosystem. After this merger, BGB will be the single ecosystem token available for Bitget Wallet and Bitget, therefore providing more value for its users.
The statement coincides with a rise in BGB’s market performance. BGB is trading at $6.77 at the time of writing, reflecting a 24.67% increase over the last 24 hours. Its trading volume has surged by 268.47% to $1.29 billion, exceeding that of Binance Coin (BNB).
Announcement on the merger of Bitget Wallet Token (BWB) and Bitget Token (BGB)
Learn more: https://t.co/JzJpjuPMaq pic.twitter.com/ViLgdqAw8n
— Bitget (@bitgetglobal) December 26, 2024
Bitget: Expanding BGB’s Role Across DeFi and Offline Payments
Leveraging BGB as a key asset, the integration seeks to consolidate the Bitget and Bitget Wallet ecosystems. Previously using its Launchpad platform, Bitget Wallet debuted BWB with a total quantity of one billion tokens set especially for BGB and USDT holders.
Now, once the merger is finalized, BGB’s influence will grow much further. It will be included in top-tier DeFi ecosystems and major public blockchains, allowing on-chain trade services and progressively becoming a central staking asset for standard lending and staking systems.
BGB will also interact effortlessly with Bitget Wallet, providing multi-chain gas charge payments and Fair Launchpool. Looking forward, Bitget intends to expand BGB’s uses to offline PayFi platforms beginning in 2025.
By allowing users to make seamless payments in consumer scenarios such as dining, traveling, recharging, and shopping, this endeavor will help to link Web3 with traditional financial and consumer products.
Excellent liquidity and great community support confirm BGB’s popularity as one of the top 30 cryptocurrencies by market cap, thereby supporting its leadership status as a main platform token.
Bitget’s worldwide goals keep rising concurrently. Recently working with TRON, the platform bought $10 million worth of TRX to support blockchain research and ecosystem development. According to CNF, this alliance improves DeFi solutions and on-chain payment methods while extending TRON’s global presence.
Besides that, having also obtained a Bitcoin Service Provider license in El Salvador, Bitget is strategically positioned in one of the most crypto-friendly countries. As we previously reported, the exchange intends to build a local workforce and seek a Digital Asset Service Provider license, thereby strengthening its presence in El Salvador’s developing crypto space.