Crypto exchange Bitget has announced a major upgrade to BGBTC, its Bitcoin-linked yield-enhanced asset, introducing additional features designed to improve capital efficiency and expand the token’s utility across blockchain networks.
BGBTC is pegged to Bitcoin at a 1:1 ratio and is designed to provide users with exposure to BTC while offering additional yield-related benefits. Under the latest upgrade, BGBTC holders will receive daily rewards denominated in Bitcoin.
BGBTC just got a major upgrade.
Backed 1:1 by BTC, it now offers daily BTC rewards, fast redemption at scale, and utility across trading, margin, loans, Launchpool, and PoolX.
— Bitget (@bitget) July 31, 2026
The new offering also introduces several additional benefits, including large-volume and fast redemption capabilities, institutional-grade risk protection and greater transparency. These features are aimed at making BGBTC more useful for both individual and institutional users seeking enhanced utility from their Bitcoin holdings.
As part of the upgrade, Bitget has integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as the canonical cross-chain infrastructure for BGBTC. The integration is designed to support secure distribution of the token across multiple blockchain networks while improving its interoperability.
Bitget has also highlighted its existing integration with Chainlink’s Proof of Reserve (PoR), which is used to provide asset verification. The exchange says the combination of CCIP and Proof of Reserve strengthens the infrastructure supporting BGBTC by addressing both cross-chain interoperability and reserve transparency.
The upgrade comes as crypto platforms increasingly explore ways to make Bitcoin more productive within decentralized and centralized financial ecosystems. Traditionally, holding Bitcoin has primarily provided exposure to the asset’s price movements, while newer products seek to generate additional utility or yield from BTC holdings.
By adding Bitcoin-denominated rewards and cross-chain functionality, Bitget is positioning BGBTC as an asset that can potentially be used across a wider range of blockchain-based applications and trading environments.
The company said the latest developments are intended to make BGBTC more credible, portable and useful for traders while providing enhanced transparency and risk-management features.
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