- Bitget and its self-custodial wallet now enable onchain trading of tokenised stocks, ETFs and 100+ RWAs via Ondo Finance, with a US$1 minimum.
- Bitget Token (BGB) is moving to Morph as gas/governance; 440M BGB sent to the Morph Foundation with 50% burned and the rest released at 2% monthly.
- L2BEAT flags Morph’s security and centralization risks (no upgrade delay, weak fraud proofs, operator powers), while noting similar issues across many networks.
- New listings: TRADOOR (TON-based) goes live Sept 4, and Somnia (EVM L1) on Sept 2, as Bitget expands beyond 800 pairs toward 900+.
Bitget is widening its scope across several fronts, blending tokenised equities and ETFs with onchain access, reshaping the role of Bitget’s BGB token and adding new assets to spot markets. The exchange and its self-custody wallet are now offering live trading of tokenised stocks, ETFs, and other real-world assets through an integration with Ondo Finance.
At the same time, Bitget confirmed a strategic shift for its native asset, with BGB set to anchor the Morph Layer 2 as gas and governance, while fresh listings like TRADOOR and Somnia extend the platform’s catalogue for traders seeking variety and speed. The overall picture is of a company tightening the link between TradFi and DeFi while expanding product access outside the US.
Tokenised equities and RWAs go onchain with Ondo Finance
The new rollout gives non-US users direct, onchain access to equities, ETFs, and 100+ tokenised RWAs via Bitget’s exchange and its self-custodial wallet. Each token is designed to mirror the total return of its underlying security, incorporating both price moves and reinvested dividends, and is fully backed by real-world assets kept with regulated custodians.
The entry bar has been set low: purchases can start from US$1, broadening reach to smaller portfolios. By combining blockchain rails, asset tokenisation, and a secure wallet, Bitget says it is opening channels to instruments typically associated with institutional desks.
Leadership at the wallet unit described the approach as a way to bridge traditional vehicles and DeFi’s open architecture, reducing onboarding friction for onchain access to global markets. The team also positioned the wallet as an evolving “asset passport” aimed at borderless participation through self-custody.
BGB transitions to Morph: mechanics, supply and market reaction
Bitget is transferring 440 million BGB to the Morph Foundation. Half of that allocation will be burned immediately, with the remaining 220 million unlocked at 2% per month to support liquidity incentives, use cases, and education. Following this move, Morph will serve as the native onchain home of BGB, which will function as both gas and governance token.
The exchange emphasized that the Morph Foundation will be solely responsible for BGB’s long-term roadmap, indicating a step back from direct development. In addition, the burn mechanism will be updated to align with Morph network activity until total supply contracts to 100 million. The rationale for choosing Morph was not detailed at the time of reporting.
Markets reacted quickly: after the announcement, BGB spiked about 10% to around $5.20 before slipping below $5 later in the session. BGB’s market capitalization was reported near $5.78 billion, placing it among the top forty crypto assets by size. As for the venue, Bitget ranks 7th by 24-hour spot volume, and sits third overall when CoinGecko’s Trust Score is factored in.
Security and centralization questions for Morph
Independent observers have outlined notable security and centralization risks for Morph. Data cited by L2BEAT points to the absence of an upgrade delay, which could theoretically allow a malicious code push without giving users time to respond.
Concerns also include a nonfunctional fraud-proof pathway where a whitelisted challenger does not post challenges on incorrect state roots, as well as the operator’s power to override finalized batches, potentially censor withdrawals or specific transactions.
Given the operator’s position, the setup may enable MEV extraction via front-running. Still, L2BEAT’s comparisons show that many L2s display similar red flags, suggesting Morph is not alone in grappling with these trade-offs as the ecosystem evolves. As of the latest readings, Morph’s DeFi TVL stands around $41.4 million.
On the funding side, Morph secured $20 million in a round led by Dragonfly Capital with participation from Pantera Capital, The Spartan Group and others. For industry context, another major exchange recently shifted its platform token to its L2 and executed a large burn, underscoring a broader pattern among centralized venues experimenting with onchain settlement and token economics.
Fresh listings: TRADOOR and Somnia enter the roster
Bitget added Tradoor (TRADOOR) to its Innovation Zone, opening the TRADOOR/USDT spot pair on September 4, 2025 at 14:00 UTC, with withdrawals available from September 5, 2025 at 15:00 UTC. Built on The Open Network (TON), Tradoor targets high-frequency and leveraged trading and integrates with Telegram Mini Apps for streamlined onboarding across mobile and web.
Its design centers on an NDMM (Normal Distribution-Based Market Maker) model that pairs scientific pricing with risk controls. Safeguards such as advanced liquidations and a proven auto-deleveraging (ADL) framework aim to balance trader experience, LP interests, and protocol resilience during sharp market moves.
Earlier in the week, Bitget also listed Somnia (SOMI) in the Innovation and Public Chain Zone, with SOMI/USDT spot trading starting on September 2, 2025 at 14:30 UTC and withdrawals from September 3, 2025 at 15:30 UTC. Somnia is an EVM-compatible Layer 1 built for real-time, mass-market applications across gaming, social, metaverse, and DeFi.
The chain’s architecture targets over one million TPS with sub-second finality via MultiStream, compiled EVM bytecode execution, IceDB for ultra-low-latency data access, and advanced compression, aiming to marry throughput with decentralization for heavy, interactive workloads.
Broader ecosystem and partnerships
Bitget’s exchange now supports 800+ trading pairs and is working toward expanding beyond 900. The company reports serving 120 million users across more than 150 countries and regions, with copy trading and other tools aimed at helping users navigate crypto markets.
Its non-custodial wallet supports 130+ blockchains and millions of tokens, offering multi-chain swaps, staking, payments, and integrated access to 20,000+ DApps. On the brand side, Bitget has highlighted sporting partnerships, including regional involvement with a top-flight football league and collaboration with UNICEF on blockchain education targeting over a million learners by 2027, plus a presence in Motorsports.
As always in crypto markets, price volatility and liquidity conditions can change rapidly. Prospective participants should consider personal risk tolerance, seek independent advice where appropriate, and only allocate capital they can afford to lose.
Bitget’s latest moves knit together tokenised real-world exposure, a redesigned role for its native token on an L2, and a steady drumbeat of new listings. Between onchain equities access, the BGB shift to Morph (and associated debates about L2 security models), and assets like TRADOOR and Somnia joining spot markets, the exchange is positioning for a wider, more composable product stack while leaving room for the market to judge how these pieces perform in practice.
