2 months ago
23
BITGET, a leading cryptocurrency exchange platform and Web3 company, has announced exciting plans for 2025, introducing new PayFi applications that aim to give users more ways to make everyday payments convenient.
ADVANCING FINANCES Bitget Philippines Country Manager Jose Mendoza (left) and Bitget CEO Gracy Chen. PHOTO FROM BITGET
Following the merger of Bitget Token (BGB) and Bitget Wallet Token, the newly unified BGB will now power the entire Bitget ecosystem. With the unified BGB token, Filipinos will soon be able to use Bitget Pay and the Bitget Card for everyday expenses.
According to the updated BGB whitepaper, cardholders who hold a specified amount of BGB tokens will also enjoy premium benefits such as rebates, reduced transaction fees, and access to luxury lifestyle services.
As part of its efforts to enhance the value of BGB, Bitget recently reduced the token's total supply by burning 800 million tokens — worth nearly $5 billion. This strategic move reduced the total supply from 2 billion to 1.2 billion tokens, creating scarcity and boosting market confidence.
Bitget has also committed to ongoing quarterly burns, destroying 20 percent of its profits from trading fees across its services. Token burning is a process that permanently removes a portion of tokens from circulation, making the remaining supply more scarce.
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Bitget further strengthens user confidence with advanced security measures, including a $600-million Protection Fund and a monthly updated Proof-of-Reserve report, offering traders greater security and trust on the platform.
