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Bitget upgrades yield-bearing Bitcoin asset
03 August 2026 Global
Image: naka/stock.adobe.com
Bitget, a cryptocurrency and universal exchange, has upgraded its yield-bearing bitcoin asset, BGBTC.
The firm has introduced daily BTC-denominated rewards, large-volume fast redemption, institutional-grade risk oversight, and enhanced transparency.
As part of the upgrade, Bitget has adopted Chainlink’s Cross-Chain Interoperability Protocol (CCIP) in a bid to enable multi-chain distribution and build upon its current use of Chainlink Proof of Reserve.
Bitget has also introduced its independent risk-management Curator model, which aims to add a layer of institutional-grade governance to BGBTC’s underlying yield strategies by separating strategy oversight from asset custody while increasing portfolio monitoring, risk management, and long-term yield sustainability.
Gauntlet, a quantitative risk management firm, will act as the curator.
BGBTC is backed one-to-one by Bitcoin and can be used as futures margin, lending collateral, and for participation in Launchpool and PoolX, crypto-earning platforms on the Bitget exchange.
Commenting on the upgrade, Gracy Chen, CEO of Bitget, says: “We see capital efficiency becoming one of the defining themes of digital asset markets, and BGBTC is designed to help users generate value from their BTC while allowing it the flexibility to put it to work across multiple financial activities.”
The exchange says the initiative reflects the growing demand for Bitcoin solutions that combine long-term ownership with capital efficiency, and its broader aim of connecting CeFi and DeFi through a “unified Bitcoin yield network”.
The firm has introduced daily BTC-denominated rewards, large-volume fast redemption, institutional-grade risk oversight, and enhanced transparency.
As part of the upgrade, Bitget has adopted Chainlink’s Cross-Chain Interoperability Protocol (CCIP) in a bid to enable multi-chain distribution and build upon its current use of Chainlink Proof of Reserve.
Bitget has also introduced its independent risk-management Curator model, which aims to add a layer of institutional-grade governance to BGBTC’s underlying yield strategies by separating strategy oversight from asset custody while increasing portfolio monitoring, risk management, and long-term yield sustainability.
Gauntlet, a quantitative risk management firm, will act as the curator.
BGBTC is backed one-to-one by Bitcoin and can be used as futures margin, lending collateral, and for participation in Launchpool and PoolX, crypto-earning platforms on the Bitget exchange.
Commenting on the upgrade, Gracy Chen, CEO of Bitget, says: “We see capital efficiency becoming one of the defining themes of digital asset markets, and BGBTC is designed to help users generate value from their BTC while allowing it the flexibility to put it to work across multiple financial activities.”
The exchange says the initiative reflects the growing demand for Bitcoin solutions that combine long-term ownership with capital efficiency, and its broader aim of connecting CeFi and DeFi through a “unified Bitcoin yield network”.
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