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- Bitget has enhanced trust and security for DeFi Users by leveraging Chainlink Proof of Reserve to Provide Near Real-Time Verification of BGBTC.
- With this integration, users can trade with peace of mind, knowing their assets are transparently backed and can be verified in real time.
Bitget, a major crypto exchange serving over 120 million users and managing $8+ billion in assets, has taken a step toward boosting trust and transparency. The platform has integrated Chainlink’s Proof of Reserve (PoR) solution on Ethereum (ETH) for its wrapped Bitcoin token, BGBTC. Launched in December 2024, BGBTC provides a smooth bridge into the DeFi ecosystem while ensuring every token is backed 1-for-1 with real Bitcoin (BTC).
Chainlink Proof of Reserve is a decentralized oracle service that monitors and verifies the collateral backing of tokenized or wrapped assets in real time. Without transparent proof, users are forced to “just trust” issuers. This has led to high-profile collapses (FTX, Terra, etc.) where reserves didn’t actually exist or weren’t properly collateralized.
PoR solves this by offering independent, cryptographic verification. With this, there is no need to rely on manual audits or self-reported data; reserve balances are published on-chain in real time, making it possible for anyone to confirm that each BGBTC is fully backed independently.
Commenting on this, Gracy Chen, CEO of Bitget, said,
Transparency is essential in the digital asset industry. 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.
Chainlink’s Growing Influence
Just recently, Chainlink teamed up with Intercontinental Exchange (ICE) to bring currency and precious metals prices from over 300 markets onto blockchain networks. As we explained in a report, these prices are being added to Chainlink’s Data Streams service, opening access to more than 2,000 applications, along with banks, asset managers, and blockchain platforms.
The partnership cements Chainlink’s role as a leader in the real-world asset (RWA) space. In fact, Chainlink has outperformed its competitors, Avalanche (AVAX), Stellar (XLM), and IOTA in recent activity, earning a score of 237.93 over the past 30 days. With analysts projecting the RWA market could top $30 trillion in the coming years, the momentum is hard to ignore.
Chainlink’s momentum is also showing up on-chain. Mid-August turned out to be its most active period of 2025, with more than 9,800 wallets moving LINK on August 17 and another 9,625 new wallets created the very next day.
On the trading side, LINK is sitting at $24.81, up 2.1% in the past 24 hours. Indicators are flashing some caution, though. RSI is near 64, and the Stochastic Oscillator is at 87, both suggesting the token may be in overbought territory. The big question now is whether LINK can clear the $26 resistance level. If it does, analysts see room for a rally toward the $29–30 range.
For context, LINK is currently the 11th largest cryptocurrency by market cap at $17 billion, with a trading volume of $2.31 billion (down 18% in the last day). Meanwhile, its total value locked (TVL) sits around $56.9 billion, underlining Chainlink’s growing footprint in the Web3 economy.
