Bitget Wallet Token (BWB) Merges into Bitget Token (BGB)

Bitget is set to merge the Bitget Wallet Token (BWB) into Bitget Token (BGB), unifying these into a single ecosystem token for both the centralized cryptocurrency exchange and the decentralized Bitget Wallet.

The unified BGB will integrate with Bitget Wallet, enabling features like Fair Launchpool and multi-chain gas fee payments across most on-chain scenarios. The company stated that it will also be integrated into public chains and major ecosystems in decentralized finance, allowing for on-chain trading services and serving as a core staking asset for mainstream lending and staking protocols.

Bitget claims that the combined user base of Bitget and Bitget Wallet exceeds 100 million.

Additionally, there are plans to expand BGB into offline PayFi applications, permitting payments for activities such as dining, travel, and shopping.

The merger will not impact the total supply of BGB, with an exchange rate of about 11.68 BWB to BGB. BWB-related services will be discontinued on the Bitget platform as of 4:00 PM in China (UTC+8) on Dec. 27.

Currently, BGB ranks 23rd in cryptocurrency market capitalization according to The Block’s Price pages and is the only large-cap token experiencing gains amidst widespread market declines. It is up nearly 25% in the past twenty-four hours and over 50% over the past week.