Grand Cayman, Cayman Islands, June 23, 2026, Chainwire
Sui aims to shift more of Bitcoin’s $1.2 trillion market cap into verifiable and productive onchain products.
Hashi, Sui’s native Bitcoin financing tool, has gained more institutional support ahead of the scheduled launch of its global testnet in July.
butCumberland, where money moves as freely as messages, announced today that Cumberland, Fluid and SwissBorg have joined the Hashi ecosystem, Sui’s original Bitcoin financing system, weeks ahead of the global testnet launch scheduled for July this year. The expanded alliance addresses a critical bottleneck in cryptocurrencies: solving the persistent problem of capital inefficiency by safely unlocking more than $1 trillion of immobile BTC in DeFi.
Previous market cycles have demonstrated the systemic risks of relying on obscure central credit intermediaries such as Celsius, Voyager, and Genesis to generate utility from passive assets. Hashi replaces centralized trust in the balance sheet with verifiable smart contract logic.
But with strict integrity separation by design, Bitcoin remains secure on the original Bitcoin blockchain. Sui smart contracts transact crypto and software rights to enable their use as financial security.
“Hashi is designed to unleash the productive use of Bitcoin on a scale the industry has never seen before,” said Adeniyi Abiodun, co-founder and chief product officer at Mysten Labs, an original Sui shareholder. “We believe Bitcoin will become one of the largest sources of collateral in finance as the world moves toward blockchain, and Hashi provides the foundation to make that possible on Sui.”
Designed for institutional Bitcoin financing
Hashi is a foundational rudiment that sets a new standard for how builders can create custom, bitcoin-backed financial products with risk parameters and loan terms that are fully verifiable on-chain. In just a few weeks, institutions, custodians, wallet providers, and developers can freely begin testing the infrastructure that will support bitcoin-backed lending, borrowing, and credit creation on Sui.
Expanded institutional support
Three new forces are joining the growing Hashi ecosystem, expanding support for institutional liquidity providers, market makers and digital asset platforms:
- Cumberland: Cumberland, one of the largest institutional market makers in the digital assets industry, is joining the Hashi ecosystem to evaluate the protocol’s structural frameworks and prepare to eventually provide on-chain liquidity.
- Swissburg: The European wealth management app, which has more than 1 million users, is exploring opportunities to connect its network of high-net-worth European bitcoin holders and liquidity providers to Hashi, creating new paths for bitcoin-backed borrowing and lending.
- liquid: A major DeFi lending protocol with a strong track record of efficient and secure trades is now being created, in preparation for mainnet institutional services. Fluid’s participation will provide institutional-level lending markets and deepen access to bitcoin-backed credit on Sui.
These new creators join an industry-leading group of infrastructure providers, custodians, and DeFi protocols who are already working together to build a native Bitcoin financial ecosystem on Sui.
“Bitcoin is the most liquid digital asset in the world, but without local interest, it remains an off-chain asset,” he said. Paul Krymsky, global head of business development at Cumberland. “Hashi is exciting because it offers a transparent institutional framework for bitcoin-backed credit that will replace artificial solutions with a product we are excited to use ourselves.”
“Our community has continually sought local ways to lend and borrow against their bitcoin,” he said. Cyrus Fadel, founder and CEO of SwissBorg. “We are pleased to see Hashi providing innovative solutions that make this a reality.”
“The next phase of industry growth will come from bringing larger pools of capital across infrastructure that infrastructure organizations can actually trust,” he said. Samyak Jain, Co-Founder and CEO of Fluid. “Hashi got this right: Bitcoin remains on its original chain while verifiable contracts make it productive as collateral. Fluid’s lending infrastructure is designed to transform this into capital-efficient, deep, bitcoin-backed credit markets on Sui.”
These additions expand the growing consensus of several partners who announced earlier this year that Sui is where Bitcoin financing will take off, thanks to Hashi:
Custody and wallet access
- Bitgo: Institutional custody clients.
- BlockDamon, Kobo, Fordev (by Paxos): Institutional portfolio and infrastructure providers.
- Cubism: Cross-chain guarantee infrastructure and transportation engine.
- Ledger: Retail/institutional self-care.
- Swissburg: UHNW’s European retail/institutional asset management and portfolio interface.
Lending, trading and liquidity providers
- rising: Institutional digital asset platform provides liquidity.
- Cumberland: Industry leading institutional crypto market and liquidity provider.
- Erebor: An OCC-chartered bank provides liquidity.
- Falcon X: Prime institutional brokerages provide liquidity.
Decentralized finance and lending applications
- AlphaLend, Bluefin, Current, Scallop, Suilend: Native DeFi protocols enable retail lending and borrowing on day one.
- liquid: Connecting lending, borrowing, liquidity and more financial products into an efficient capital system.
- Navi: One of the largest and longest running DeFi protocols in Sui dedicated to Hashi lending.
Treasury and asset management
- Concrete by Blueprint Finance: Yield Infrastructure Vault Platform.
- Searching for capital: Real World Return on Assets (RWA) Strategies.
- Wave Digital Assets LLC: The SEC-registered investment advisor works with industry partners to facilitate the issuance of bitcoin-collateralized bonds.
Oracle Index, Insurance and Security Audit
- CF standards: The crypto index provider distributes pricing data via an oracle.
- Sutter Insurance: The original institutional insurance denominated in Bitcoin.
- Asymptotic, sertura, utersec: Smart contract security and formal validators.
The activation of the global testnet in July of this year represents the final exercise in completely changing Bitcoin finance. This sandbox is designed for enterprise engineers, Sui protocols, developers, and custody partners to test integration parameters, stress test code under simulated market volatility, and verify cryptographic integrity before mainnet release.
Technical documentation and testnet access configurations will be hosted at https://www.sui.io/hashi.
About Sui
Sui, where money moves freely like messages, is a next-generation, layer-one Blockchain technology designed for scalable finance and global payments. Sui was founded by the core team behind the stable Meta Coins initiative and is powered by an object-centric model, making assets, permissions, and user data programmable and proprietary. Sui primitives provide builders with everything they need to build high-performance payments and financial applications, including instant agent payments. Users can learn more at sui.io.
communication: media@sui.io
communication
Sui Foundation
media@sui.io
This article is not intended to provide financial advice. Educational purposes only.
