Bitget Boosts Trust with Chainlink Proof of Reserve
This collaboration also supports the growing use of BGBTC within BitVault Finance's DeFi yield strategies and lending products, enabling both retail and institutional participants to engage with the asset knowing its backing is continuously monitored and verifiable. As blockchain technology reshapes how trust is established in financial markets, Bitget and Chainlink are working together to ensure that proof is not just promised, but provable.
'Transparency is essential in the digital asset industry,' said Gracy Chen, CEO of Bitget. 'By adopting Chainlink's industry-leading Proof of Reserve, we're giving our users and institutional partners the assurance they deserve, knowing that BGBTC is always verifiably backed. This is another step in our mission to deliver secure, transparent, and innovative products for the Web3 space.'
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Chainlink Proof of Reserve leverages decentralized oracle networks to autonomously verify the reserve balances backing tokenized assets. By publishing onchain data that reflects real-world asset reserves, Chainlink ensures that BGBTC's backing can be independently audited at any time without relying on manual disclosures.
'Chainlink Proof of Reserve, the industry standard, offers real-time monitoring, enabling users to independently verify asset collateralization, and bringing increased transparency and trust to onchain products. We are excited about Bitget's integration of Chainlink Proof of Reserve to back its BGBTC, establishing a robust framework that fuels the ongoing expansion of DeFi,' said Johann Eid, Chief Business Officer, Chainlink Labs.
The adoption of Chainlink Proof of Reserve reinforces Bitget's commitment to setting a higher standard for transparency and trust in the digital asset industry. Complementing its existing Proof of Reserve and industry-leading Protection Fund, this integration ensures users can trade with greater confidence, knowing their assets are backed and verifiable in real time.
Together, these measures cement Bitget's position as a security-first exchange, dedicated to safeguarding user interests in an evolving market landscape.
About Bitget
Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices.
Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform.
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Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.
Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world's most thrilling championships.
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
For media inquiries, please contact: media@bitget.com
About Chainlink
Chainlink is the backbone of the blockchain industry, the global standard for connecting blockchains to real-world data, other blockchains, governments, and enterprise systems. Chainlink has enabled tens of trillions in transaction value across the blockchain economy, powering critical use cases across DeFi, banking, tokenized real-world assets (RWAs), cross-chain, and more. Chainlink is widely adopted by major financial market infrastructures, institutions, and top DeFi protocols, including Swift, Euroclear, Mastercard, Fidelity International, UBS, ANZ, Aave, GMX, Lido, and many more. Learn more by visiting chain.link.
Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c4e5a9d4-f8f8-4f1e-bfaf-903019485c67
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