Bitget Just Made DeFi Easier for 125 Million Users

Bitget has rolled out USDGO Onchain Earn, a Morpho-based vault curated by Gauntlet, to its 125 million users. The idea is simple: customers can earn on their stablecoins without setting up a wallet, managing gas fees, or navigating DeFi on their own. A promotional APR of up to 10% adds to the appeal, although some details remain unclear.

Bitget Wants to Make DeFi Feel Like a Regular Exchange Product

Bitget continues to bring onchain finance closer to its exchange users. Last week, for instance, it tested an onchain strategy for tokenized stocks. Now, USDGO Onchain Earn follows the same approach: remove the technical hurdles and let customers access DeFi without having to become DeFi experts.

Instead of transferring stablecoins to a self-custody wallet and worrying about gas fees, users can subscribe directly through their Bitget accounts. The platform then creates a dedicated onchain address and covers the transaction costs.

Behind the scenes, each partner has a specific role. Morph provides the ecosystem layer, Morpho supplies the lending infrastructure, and Gauntlet manages the vault’s strategy and risk parameters.

This isn’t Bitget’s first attempt, either. In December 2025, the exchange introduced USDT and USDC Onchain Earn through Morpho and Arbitrum, following its integration of Morph assets into spot trading the previous month.

The scale of the partners also matters. Morpho reports more than $16 billion in deposits, while Gauntlet curates $1.8 billion in assets. For newcomers, that means established DeFi infrastructure sits behind what looks like a fairly ordinary exchange subscription.

The 10% APR Sounds Good, but There’s a Catch

Bitget advertises a promotional APR of up to 10% through December 3, 2026. Each user can subscribe with up to 5 million USDGO under the promotion.

However, there’s an important detail buried in the announcement: Bitget says it will confirm the promotional rate’s terms and funding source before launch. In other words, users know the headline figure, but not yet exactly who pays for it or how the promotion works.

Meanwhile, the vault generates returns through lending activity on Morpho. Its interest rate changes with utilization, so earnings fluctuate rather than follow a fixed schedule. Bitget also makes clear that returns aren’t guaranteed.

Withdrawals deserve attention, too. Although the product has no fixed lock-up period, users can only redeem their funds when the vault has sufficient liquidity and Morpho can process the request. So, flexible access doesn’t necessarily mean instant access. DeFi still has a few rules of its own.

USDGO: A Bank-Issued Stablecoin With DeFi Ambitions

USDGO isn’t a Bitget creation. Anchorage Digital Bank, a federally chartered US digital asset bank supervised by the Office of the Comptroller of the Currency, issues the stablecoin. OSL Group handles its branding and distribution.

According to USDGO’s August 31, 2026 attestation report, 1,244,426,424 tokens were outstanding against $1,248,950,562 in reserve assets. That’s a surplus of roughly $4.5 million. Money market funds accounted for 62% of the reserves, while BlackRock’s BUIDL fund represented another 37%.

This structure helps explain how USDGO fits into a DeFi lending product. Anchorage provides the regulated issuance framework, while Morpho offers the infrastructure for generating lending returns. Naturally, each layer comes with its own risks.

Bitget CEO Gracy Chen frames the launch around accessibility. Her argument is that people shouldn’t need to understand wallets, blockchain transactions, or gas fees just to earn on stablecoins.

That’s a reasonable pitch. However, removing the technical friction doesn’t remove the financial risks. Users may not need a wallet anymore, but they should still understand where their money goes.