June 23, 2026 – Grand Cayman, Cayman Islands
Sui wants to turn the majority of the $1.2T Bitcoin market into a proven, profitable onchain.
Hashi, Sui’s progeny of bitcoin currency, has received more support ahead of the launch of its global testnet this July.
Suiwhere money flows as freely as messages, announced today that Cumberland, Fluid, and SwissBorg will join the Hashi ecosystem, Sui’s native bitcoin finance primitive, weeks ahead of its launch in the global testnet July. This growing alliance is tackling a major crypto challenge: solving financial inefficiencies by securely unlocking more than a trillion BTC in DeFi.
Previous markets have shown the systemic risk of relying on opaque, centralized credit intermediaries such as Celsius, Voyager, and Genesis to generate demand from dormant assets. Hash replaces the trust-sheet trust with a proven smart concept.
But with a permanent separation of security and structure, Bitcoin remains secure on the native Bitcoin blockchain. Sui’s smart contracts manage cryptographic rights and software to use as financial collateral.
“Hashi was built to identify the best use of Bitcoin on a scale the industry has never seen,” Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs, who supported Sui. “We believe that Bitcoin will become one of the largest digital currencies as the world evolves, and Hashi provides the foundation for that to happen on Sui.”
Designed for Institutional Bitcoin Finance
Hash is an ancient framework that sets a new standard for how developers can create bespoke, Bitcoin-backed financial products with risk and credit terms that are fully verified on the chain. In just a few weeks, institutions, administrators, wallet providers, and developers can begin freely testing the architecture that supports Bitcoin-backed lending, borrowing, and lending on Sui.
Additional Institutional Support
Three new powerhouses join Hashi’s growing team, expanding support for institutional investors, market makers, and digital platforms:
- Cumberland: One of the largest developers of the digital market, Cumberland has entered the Hashi ecosystem to evaluate the performance of the protocols and prepare for the issuance of onchain coins.
- SwissBorg: The wealth management program in Europe with more than one million users, is looking for opportunities to connect with the most wealthy people in Europe who have Bitcoin and who give money in Hashi, and create new ways to borrow and lend Bitcoin.
- Water: A major DeFi lending protocol with a strong track record of efficient, secure transactions, is now building in preparation for mainnet services. Fluid’s participation could provide a marketplace for school loans and expand access to Bitcoin loans on Sui.
These new developers join a leading group of DeFi infrastructure, management, and protocol companies working together to build the Bitcoin economy on Sui.
“Bitcoin is the most liquid digital asset in the world, but without local resources, it remains valuable,” he said. Paul Kremsky, Director of Global Business Development at Cumberland. “Hashi is exciting because it brings a transparent, BTC-based system that will replace artificial intelligence with something we like to use ourselves.”“Our community has been looking for ways to borrow and lend with Bitcoin,” he said Cyrus Fazel, Founder & CEO at SwissBorg. “We’re excited to see Hashi deliver the smart solutions that will make this possible.”“The next level of growth for the industry will come from bringing large pools of capital onchain through trusted financial institutions,” he said. Samyak Jain, Co-Founder & CEO at Fluid. “Hashi is getting better: Bitcoin remains in its trading position while guaranteed contracts make it useful as collateral. Fluid lending systems are built to transform into a multi-channel, low-cost Bitcoin market on Sui.”
This addition expands the growing consensus of many partners that were announced earlier this year that Sui is where Bitcoin money can flee, thanks to Hashi:
Custody & Wallet Access
- BitGo: Corporate management clients.
- Blockdaemon, Cobo, Fordefi (by Paxos): Institutional wallet providers and infrastructure.
- Cubists: Cross-chain collateral infrastructure is the engine of change.
- Ledger: Retail/school savings.
- SwissBorg: UHNW European retail/institution asset management and wallet interface.
Borrowers, Trading & Liquidity Providers
- Bullish: Institutional digital asset platform to provide liquidity.
- Cumberland: A leading crypto market developer and funder.
- Erebor: OCC-chartered lending bank.
- FalconX: Institutional prime brokerage provides liquidity.
DeFi & Lending Apps
- AlphaLend, Bluefin, Current, Scallop, Suilend: Native DeFi protocols that support lending and borrowing on day one.
- Water: Consolidate lending, borrowing, financing and other financial products into a more efficient way.
- Navigation: One of Sui’s largest and longest-running DeFi projects planned for Hashi lending.
Vaults & Asset Management
- Concrete and Blueprint Finance: Harvest-infrastructure vault platform.
- Get Capital: Real-World Asset (RWA) provides a means of productivity.
- Wave Digital Assets LLC: An SEC-registered investment advisor is working with partners to facilitate the issuance of Bitcoin-collateralized bonds.
Index Oracle, Insurance & Security Auditing
- CF Benchmarks: Crypto index that provides price distribution through words.
- Soter Insurance: Native, Bitcoin-denominated institutional insurance.
- Asymptotic, Certora, OtterSec: Smart contract security and certified auditors.
The opening of the global testnet this July represents the final test of Bitcoin Finance. This sandbox environment was created for engineers, protocol and Sui developers, and mobile partners to test integration parameters, stress test the code under market volatility, and verify cryptographic integrity before the mainnet release.
Technical documentation and testnet access configurations will be stored at https://www.sui.io/hashi.
About Sui
Sui, where money flows as freely as messages, is a next-generation Layer 1 blockchain designed for global risk and payment transactions. Sui, founded by the core team of Meta’s stablecoin initiative, creates assets, permissions, and user data to create and own. Sui’s startup offers developers everything they need to create high-quality payments and financial services, including instant payments. Users can learn more at sui.io.
Contact: (email protected)
Contact
Sui Foundation
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