Grand Cayman, Cayman Islands, July 22nd, 2026, Chainwire
As a crypto investor, I’m really excited to hear that developers and over 25 partners are now getting a chance to test out this new Bitcoin infrastructure before it fully launches. It’s built on the Sui network, which is known for being super fast, and uses something called the Guardian Layer – a new security system from Hashi – to keep everything safe. This early testing phase is a big step and could mean some exciting things for Bitcoin’s future.
Sui, a platform designed for easy and fast financial transactions, has launched its Hashi testnet. This allows developers, financial institutions, and infrastructure companies to start building and testing applications that utilize Bitcoin before the full platform goes live.
Bitcoin has become the leading digital asset for storing value, reaching a market value of over $1 trillion based on this use alone. Now, its future growth will depend on how useful it is in everyday applications. The launch of the Hashi testnet on Sui is a key step forward for Bitcoin, allowing developers, financial institutions, and others to start building and testing financial applications that are backed by Bitcoin before they are fully released.
Today, Hashi is launching the Guardian Layer, a new security system designed to help organizations safely manage Bitcoin used as collateral. This system protects Bitcoin while still allowing it to be used in transparent and flexible on-chain financial applications. With the Guardian Layer, Bitcoin can be used more confidently for things like lending, earning yield, and creating new financial products on the Sui blockchain.
Although more institutions are starting to invest in Bitcoin through products like spot ETFs and clearer regulations, over a trillion dollars worth of Bitcoin is still sitting unused. A secure system for using Bitcoin directly in modern financial markets hasn’t been available – until now. Institutions also worried that moving their Bitcoin onto the blockchain could create unexpected tax liabilities. However, Fenwick, a leading legal firm specializing in digital assets, has determined that Hashi’s process for depositing and withdrawing Bitcoin should not trigger any taxes under U.S. law.
Hashi testnet marks the start of developing a complete system for institutional Bitcoin lending, borrowing, and credit creation on Sui. Developers – including those working on custody solutions, wallets, lending platforms, and capital markets tools – can now test their integrations, refine how things work, and get their applications ready for launch before Hashi officially goes live.
We’ve launched resources for developers on sui.io/hashi, including documentation, a guide to integration, and other technical materials, so you can start building with Sui right away.
According to Adeniyi Abiodun, co-founder of Mysten Labs (the creators of Sui), all types of assets eventually establish robust systems for borrowing, lending, and trading. He believes Bitcoin will follow this pattern, and that Hashi is providing the tools for developers to create these financial markets directly on the blockchain, offering the security, openness, and flexibility that institutions are looking for.
Adding Defense: Hashi’s Guardian Layer
Today, a new part of the system called the Guardian Layer was introduced. It’s an extra security measure designed to protect large transactions and the movement of funds. The Guardian Layer lets users set up customizable checks that can delay or stop suspicious activity before funds are moved, helping institutions reduce risk while still benefiting from the openness of blockchain markets.
All Bitcoin used as collateral is protected by a special security setup called ‘2-of-2 multisig’. This means two approvals are needed to move the funds: one from Hashi’s secure signature system, and another from a designated guardian. This adds an extra layer of defense against any unauthorized access or harmful actions.
To allow institutions to actively participate, these safeguards work alongside the systems we launched earlier this year – like automatic collateral handling, clear loan details, and complete transparency regarding collateral status.
Expanding the Institutional Ecosystem
With the launch of Hashi’s testnet, its network is expanding thanks to partnerships with companies in decentralized finance (DeFi), banking, and capital markets. Wave Digital Assets, which previously supported Hashi during its development phase, is further investing in the project. As an institutional asset manager, Wave will focus on tokenizing Bitcoin bonds using Hashi on the Sui protocol for the next three years, demonstrating their belief that institutions are now ready to adopt programmable fixed-income products based on Bitcoin.
Hashi’s World-Class Launch Partners
These advancements strengthen a thriving environment already populated by key players in the crypto world – including companies offering secure storage, trading options, digital wallets, decentralized finance services, insurance, and essential technical support.
The announcement of our test network (devnet) earlier this year sparked immediate interest, with more than 20 projects pledging to build and invest funds on Hashi – including some major players in the cryptocurrency space.
Custody & Wallet Access
- BitGo: Institutional custody clients.
- Blockdaemon, Cobo, Fordefi (by Paxos): Institutional wallet and infrastructure providers.
- Cubist: Cross-chain collateral infrastructure and transfer engine.
- Ledger: Retail/institutional self-custody.
- SwissBorg: UHNW European retail/institutional asset management and wallet interface.
Lending, Trading & Liquidity Providers
- Bullish: Institutional digital asset platform supplying liquidity.
- Cumberland: Leading institutional crypto market maker and liquidity provider.
- Erebor: OCC-chartered bank providing liquidity.
- FalconX: Institutional prime brokerage supplying liquidity.
DeFi & Lending Applications
- AlphaLend, Bluefin, Current, Scallop, Suilend: Native DeFi protocols enabling retail lending and borrowing on day one.
- Fluid: Connecting lending, borrowing, liquidity and more financial products into a capital-efficient system.
- Navi: One of Sui’s largest and longest running DeFi protocols slated for Hashi lending.
Vaults & Asset Management
- Concrete by Blueprint Finance: Yield-infrastructure vault platform.
- Inveniam Capital: Real-World Asset (RWA) yield strategies.
- Wave Digital Assets LLC: SEC-registered investment adviser working with industry partners to facilitate the issuance of Bitcoin-collateralized bonds.
Index Oracle, Insurance & Security Auditing
- CF Benchmarks: Crypto index provider distributing pricing data via oracles.
- Soter Insure: Native, Bitcoin-denominated institutional insurance.
- Asymptotic, Certora, OtterSec: Smart contract security and formal verification auditors.
From today onwards, developers are empowered to create, institutions can connect their systems, and infrastructure providers can launch new services. By working together, they can build the financial system Bitcoin needs – one where Bitcoin is widely used as valuable backing for loans and other financial products.
Technical documentation and testnet access configurations are hosted at https://www.sui.io/hashi.
About Sui
Sui is a new blockchain designed to make financial transactions and global payments faster and more efficient. Built by the team behind Meta’s work on digital currencies, Sui allows users to easily program and control their assets and data. It provides all the necessary tools for developers to create powerful financial applications, including quick and automated payments. You can find more information at sui.io.
Contact: media@sui.io
Contact
Sui Foundation
media@sui.io
2026-07-23 00:28