Sui Ecosystem Welcomes Major Players as Bitcoin Finance Primitive Nears Launch
Grand Cayman, Cayman Islands – June 23rd, 2026 – Sui, a blockchain platform designed for seamless financial transactions, announced today that Cumberland, Fluid, and SwissBorg have joined the Hashi ecosystem. Hashi, Sui’s native Bitcoin finance primitive, aims to unlock the productive potential of Bitcoin’s substantial market capitalization, estimated at $1.2 trillion, by transforming it into verifiable on-chain financial products. This expansion of institutional support comes just weeks before the scheduled launch of Hashi’s global testnet in July.
The growing coalition addresses a significant challenge in the cryptocurrency space: capital inefficiency. By enabling the safe integration of over a trillion dollars of Bitcoin into decentralized finance (DeFi), Hashi seeks to overcome this persistent issue. Previous market cycles highlighted the risks associated with relying on opaque, centralized credit intermediaries like Celsius, Voyager, and Genesis for generating utility from dormant assets. Hashi offers an alternative by replacing centralized balance-sheet trust with verifiable smart contract logic.
Crucially, Bitcoin will remain securely on its native blockchain, with Sui smart contracts managing the cryptographic and programmatic rights necessary for its use as financial collateral.
“Hashi was built to unlock the productive use of Bitcoin at a scale the industry hasn’t seen before,” said 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 designed to set a new standard for creating bespoke, Bitcoin-backed financial products. Builders will be able to define risk parameters and loan terms that are fully verifiable on-chain. In the coming weeks, institutions, custodians, wallet providers, and developers will have the opportunity to test the infrastructure that will support Bitcoin-backed lending, borrowing, and credit origination on Sui.
Expanded Institutional Support
The addition of Cumberland, Fluid, and SwissBorg significantly broadens support for institutional liquidity providers, market makers, and digital asset platforms within the Hashi ecosystem. These new participants join a robust group of infrastructure providers, custodians, and DeFi protocols already collaborating 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,” stated 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.”
Cyrus Fazel, Founder & CEO at SwissBorg, commented, “Our community has consistently sought native ways to lend and borrow against their Bitcoin. We’re thrilled to see Hashi delivering innovative solutions that make this a reality.”
Samyak Jain, Co-Founder & CEO at Fluid, added, “The next phase of the industry’s growth will come from bringing larger pools of capital onchain through infrastructure institutions can actually trust. 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 new partnerships reinforce the growing consensus that Sui, through Hashi, is poised to become a central hub for Bitcoin finance. The ecosystem already includes partners focused on custody and wallet access, lending, trading, liquidity provision, DeFi applications, vaults, asset management, and oracle and security auditing services.
The upcoming global testnet in July will serve as a comprehensive rehearsal for the transformation of Bitcoin finance. This sandbox environment is intended for institutional engineers, Sui protocols, developers, and custody partners to refine integration parameters, stress-test the code under simulated market volatility, and verify cryptographic integrity before the mainnet release.
Technical documentation and testnet access configurations will be available at https://www.sui.io/hashi.
About Sui
Sui is a next-generation Layer 1 blockchain engineered for scalable finance and global payments. Developed by the core team behind Meta’s stablecoin initiative, Sui utilizes an object-centric model to make assets, permissions, and user data programmable and ownable. The platform provides builders with essential primitives for creating high-performance payment and financial applications, including instant agentic payments. Further information can be found at sui.io.
Leave a Reply