Bitget adopts Chainlink's proof of reserves solution to enhance the transparency of BGBTC assets

ChainCatcher news, Bitget announced that it has adopted the Proof of Reserve solution supported by Chainlink technology, providing real-time transparency and verifiable reserve guarantees for its Bitcoin-pegged asset BGBTC.

It is understood that the Chainlink Proof of Reserve solution autonomously verifies the reserve balances behind tokenized assets through a decentralized oracle network, bringing real-world asset reserve data on-chain, allowing BGBTC's reserve support to be independent of manual disclosures and subject to independent audits at any time. Meanwhile, this mechanism will further support the application of BGBTC in BitVault Finance's DeFi yield strategies and lending products, enabling both retail and institutional users to confirm that the reserves behind the assets are under continuous monitoring.

Bitget CEO Gracy Chen stated, "Transparency is crucial in the digital asset industry. By adopting Chainlink's Proof of Reserve solution, we provide stronger trust assurances for retail users and institutional partners, ensuring that BGBTC always has verifiable asset support."