Sui aims to transition more of Bitcoin’s $1.2T market cap into verifiable, productive onchain products.
Hashi, Sui’s native bitcoin finance primitive, gains more institutional support ahead of the scheduled launch of its global testnet this July. Â
Sui, where money moves as freely as messages, announced today that Cumberland, Fluid, and SwissBorg have joined the Hashi ecosystem. Hashi is Sui's native bitcoin finance primitive, and this news comes just weeks before its scheduled global testnet launch this July. This growing group of partners is taking on a critical challenge in crypto: fixing the ongoing problem of capital inefficiency. They plan to do this by safely unlocking over one trillion dollars of idle BTC and putting it to work in DeFi.Â
Previous market cycles have shown us the big, system-wide dangers of depending on opaque, centralized lending companies like Celsius, Voyager, and Genesis to create value from idle assets. Hashi fixes this problem by replacing trust in a company's balance sheet with smart contract logic that anyone can verify.
But here is the key safety feature: by design, there is a strict separation to keep things secure. Bitcoin itself stays safely on the original Bitcoin blockchain. Instead of moving your Bitcoin, Sui smart contracts manage the cryptographic and programmatic rights that allow it to be used as financial collateral. This means you get the benefits of using your Bitcoin without ever giving up control of it to a risky middleman.
“Hashi was built to unlock the productive use of Bitcoin at a scale the industry hasn't seen before,” Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs, the original contributor to Sui. “We believe Bitcoin will become one of the largest sources of collateral in finance as the world moves onchain, and Hashi provides the foundation to make that possible on Sui.”
Built for Institutional Bitcoin Finance
Hashi is a key part. It sets a new bar. It helps devs make new things. These things are coin-based goods. They use Bitcoin as back up.These goods have risk rules. They have loan terms too. You can check each rule. You can check each term. You can see them on the chain. The chain is the web of blocks.Soon you can try it out. It will be just weeks from now. Big groups can use it. Safe keepers can use it. Wallet firms can use it. Devs can use it too. They can test it at no cost.This base will help with loans. It will help with borrows. It will help start new credit. All of these use Bitcoin. They are built on Sui. Sui is a fast network.Â
Expanded Institutional Support
Three new powerhouses join the growing Hashi ecosystem, broadening support for institutional liquidity providers, market makers, and digital asset platforms:
These new builders join an industry-leading group of infrastructure providers, custodians, and DeFi protocols already working together to build a native Bitcoin financial ecosystem on Sui.
“Bitcoin is the world’s most liquid digital asset, but without native utility, it remains an off-chain asset,” said Paul Kremsky, Global Head of Business Development at Cumberland. “Hashi is exciting because it introduces a transparent, institutional-grade framework for BTC-backed credit that will replace synthetic workarounds with a product we are excited to use ourselves.”
“Our community has consistently sought native ways to lend and borrow against their Bitcoin,” said Cyrus Fazel, Founder & CEO at SwissBorg. “We’re thrilled to see Hashi delivering innovative solutions that make this a reality.”
“The next phase of the industry's growth will come from bringing larger pools of capital onchain through infrastructure institutions can actually trust," said Samyak Jain, Co-Founder & CEO at Fluid. “Hashi gets this right: Bitcoin stays on its native chain while verifiable contracts make it productive as collateral. Fluid's lending infrastructure is built to turn that into deep, capital-efficient Bitcoin-backed credit markets on Sui.”
These additions expand the growing consensus of many partners announced earlier this year that Sui is where Bitcoin finance will take flight, thanks to Hashi:
Custody & Wallet AccessÂ
Lending, Trading & Liquidity Providers
DeFi & Lending Applications
Vaults & Asset Management
Index Oracle, Insurance & Security Auditing
The activation of the global testnet this July is the final practice run for completely transforming Bitcoin Finance. This sandbox environment is built for institutional engineers, Sui protocols and developers, and custody partners to test how their systems connect, push the code to its limits under fake but realistic market swings, and double-check that all the cryptography works correctly before the mainnet goes live.
Technical documentation and testnet access configurations will be hosted at https://www.sui.io/hashi.Â
About Sui
Sui is a new type of chain. It is the first of its kind. It is made for cash. It can grow and get big. It works for pays all round the world.On Sui, cash moves fast. It moves like a text. It is just that quick.The same core team made it. They worked on Meta's coin. Meta's coin was a stable coin. This chain is not the same. It has a new style. It is based on each thing. Each thing has its own spot.This new style gives more say. You can own your stuff. You can set your own rules. You can change your own data. Builders have more say too. Users have more say as well.Sui has key parts. These parts are called primitives. They give devs all they need. Devs can build fast pay systems. They can build cash apps too. Some pays can just run on their own. They do not need a push.To learn more, users can visit sui.io.Â
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