Bitget adopts the Chainlink Proof of Reserve scheme to enhance BGBTC asset transparency

2025.08.20 09:57:08

On August 20th, Bitget announced the implementation of a Chainlink-backed Proof of Reserve solution, offering real-time transparency and verifiable reserve guarantees for its Bitcoin-pegged asset BGBTC. According to reports, the Chainlink Proof of Reserve solution independently validates the reserve balance behind tokenized assets via a decentralized oracle network, bringing real-world asset reserve data onto the blockchain. This guarantees that the reserve backing BGBTC does not rely on manual disclosure and can be subject to independent audits at any time. This mechanism will also further support the use of BGBTC in BitVault Finance's DeFi yield strategies and lending products, enabling retail and institutional users to confirm that the reserve behind the asset is under continuous monitoring. Bitget CEO Gracy Chen stated: "Transparency is of great importance in the digital asset industry. By adopting Chainlink's Proof of Reserve solution, we have provided greater trust assurances to retail users and institutional partners, ensuring that BGBTC always has verifiable asset backing."

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