Bitget upgrades Bitcoin‑backed BGBTC token with daily rewards and cross‑chain support

Bitget announced a major upgrade to its Bitcoin‑backed token BGBTC, which maintains a 1:1 peg with BTC. The upgrade adds daily Bitcoin‑denominated rewards for holders, larger‑volume and faster redemption capabilities, and institutional‑grade risk controls. An independent curator framework overseen by Gauntlet will monitor the token’s underlying yield strategies.

The token now uses Chainlink’s Cross‑Chain Interoperability Protocol (CCIP) as its canonical cross‑chain infrastructure, enabling secure multi‑chain distribution. BGBTC can be employed across Bitget’s ecosystem for futures margin, lending collateral, launchpool participation and PoolX activities, offering users a way to earn yield on idle Bitcoin without selling the underlying asset.