Bitget has implemented Chainlink Proof of Reserve for its Bitcoin-pegged token BGBTC, introducing real-time transparency and verifiable reserve guarantees that align with institutional reporting standards.
The Chainlink solution uses a decentralized oracle network to autonomously validate on-chain reserve balances behind tokenized assets, bringing real-world reserve data on-chain and reducing reliance on manual disclosures while enabling independent audits.
According to Bitget, the mechanism supports the use of BGBTC in BitVault Finance’s DeFi yield strategies and lending products and enables retail and institutional users to confirm that the asset’s reserve is under continuous monitoring. Bitget CEO Gracy Chen said: “Transparency is crucial in the digital asset industry.”