Bitget, a leading cryptocurrency exchange and Web3 solutions provider, has announced the merger of its two native tokens—Bitget Token (BGB) and Bitget Wallet Token (BWB). The move comes in response to strong demand from its community and aims to consolidate both tokens into a single utility token, BGB. This unified token will power the entire Bitget ecosystem, encompassing both its exchange and wallet services.
Ranked among the top three centralized exchanges (CEXs) globally in terms of trading volume, Bitget offers a comprehensive range of services, including pre-market, spot, margin, and futures trading. Meanwhile, Bitget Wallet is one of the most widely adopted Web3 wallets, with over 60 million users spread across major Layer-1 and Layer-2 ecosystems. Together, the exchange and wallet serve more than 100 million users globally, making Bitget the second-largest CEX ecosystem in the world.
Enhancing Utility and Ecosystem Integration
The merger aims to strengthen the utility and scope of BGB within the Bitget ecosystem. Post-merger, BGB will play a central role in supporting decentralized applications (DApps) and becoming a key asset in blockchain ecosystems. Its applications will extend to staking in DeFi protocols, decentralized lending platforms, and powering essential services in Bitget Wallet, such as Fair Launchpool and multi-chain gas fee payments.
Additionally, BGB is set to explore real-world use cases, enabling payments for dining, travel, shopping, fuel, and other daily transactions through Bitget’s Web3 PayFi services. This move is expected to provide users with a seamless experience bridging decentralized finance and real-world applications.
Transition and Token Swap Details
To ensure a smooth transition, holders of BWB tokens on the Bitget exchange can automatically swap their tokens for BGB. The conversion rate has been set at 0.08563 BGB per BWB, calculated based on the 7-day average closing price of the BWB/USDT trading pair. Following the swap, all BWB tokens will be permanently burned, and the equivalent BGB tokens will be airdropped to users’ accounts. Trading and related services for BWB will cease on December 27.
Driving Growth in the Decentralized Space
Bitget executives highlighted the merger as a strategic step toward building a resilient and expansive ecosystem. The company reported that BGB has experienced significant growth, with its market capitalization increasing by over 750% in 2024, making it one of the best-performing CEX tokens this year. This success, attributed to strong community backing and increasing demand for BGB across multiple use cases, reinforces its role as a leading utility token in the industry.
With this consolidation, Bitget aims to solidify BGB’s position as a core asset within its ecosystem, enhancing liquidity, community engagement, and real-world applications. As the cryptocurrency market continues to mature, the company sees this initiative as an opportunity to strengthen BGB’s relevance and utility in both decentralized and real-world applications.
This token unification marks a significant milestone for Bitget, reflecting its commitment to innovation and sustainable growth in the ever-evolving Web3 landscape.
