Cryptocurrency Exchange Bitget Announces Multimillion-Dollar Deal with Morph
Cryptocurrency exchange Bitget has recently partnered with Morph, a layer-2 consumer blockchain network, in a deal worth millions of dollars. The collaboration aims to expand Morph’s follower base to over 50 million users by implementing Bitget’s native affiliate system.
While the exact financial details of the deal remain undisclosed, Morph Co-Founder Cecilia Hsueh stated that the proceeds will be used to drive product development and reform the layer-2 landscape. Bitget Managing Director Gracy Chen praised Morph for its experienced team and strategic capabilities in fostering mass adoption.
Morph’s Roadmap and Partnerships
Morph has yet to announce a specific date for the beta launch of its layer-2 testnet. However, the network is targeting an early January 2024 release for Testnet Beta and plans to go live with Mainnet Beta in Q2 2024.
In addition to partnering with Bitget, Morph has also formed a strategic alliance with Foresight Ventures, a Singapore-based crypto fund that acquired a majority stake in The Block. Although no further details were provided regarding this partnership, it is expected to support Morph’s global expansion efforts.
About Morph and Its Scaling Solution
Morph was established in 2023 as a layer-2 scaling solution for the Ethereum blockchain. Utilizing “rollups,” Morph enhances transaction throughput and reduces fees. Rollups aggregate transactions off-chain before periodically submitting them to the main Ethereum blockchain.
Hot Take: The Future of Layer-2 Scaling
The partnership between Bitget and Morph represents an important step towards advancing layer-2 scaling solutions in the cryptocurrency industry. By combining their resources and expertise, they aim to drive mass adoption and overcome the scalability challenges faced by blockchain networks like Ethereum. As Morph continues its development and expands its user base, we can expect more innovative layer-2 solutions to emerge, fueling the growth of stable and efficient crypto markets.
By
By
By
By
By
By