DeFi

Bitcoin

Guardian

Grand Cayman, Cayman Islands, July 22nd, 2026, Chainwire New builders and 25+ partners can now begin testing the much-anticipated Bitcoin infrastructure ahead of mainnet, powered by Sui's high-performance network and Hashi's novel security mechanism, the Guardian Layer.Sui, where money moves as freely as messages, today announced that Hashi testnet has officially launched, giving builders, institutions, and infrastructure providers the opportunity to develop and integrate Bitcoin-backed financial applications ahead of mainnet.&nbsp;Bitcoin has proven itself as the world's premier digital store of value, amassing <a href="https://www.coingecko.com/en/coins/bitcoin" rel="noopener noreferrer nofollow">over a $1 trillion market cap</a> on that use case alone. Its next chapter will be defined by utility. With Hashi testnet now live on Sui, this marks an important milestone in Bitcoin’s necessary evolution, giving developers, custodians, financial institutions, and ecosystem partners their first opportunity to build, integrate, and stress-test Bitcoin-backed financial applications ahead of mainnet.&nbsp;Alongside today's launch, Hashi introduces the Guardian Layer, a new defense-in-depth security architecture purpose-built to help institutions securely manage Bitcoin collateral while preserving the transparency and programmability of onchain finance. The Guardian Layer gives Bitcoin the defense it needs to finally go on offense, helping unlock lending, credit, yield strategies, and a new generation of institutional financial products on Sui.While institutional adoption has accelerated through spot ETFs, corporate treasury strategies, and expanding regulatory clarity, more than a trillion dollars of Bitcoin remains largely dormant. The infrastructure to safely deploy native BTC into transparent, programmable credit markets has simply not existed. Just as importantly, institutions have lacked confidence that moving native BTC into onchain markets could be done without triggering unnecessary tax consequences. Fenwick, one of the foremost law firms in digital assets, <a href="https://blog.sui.io/legal-case-that-hashi-transactions-are-not-taxable-events/" rel="noopener noreferrer nofollow">concluded</a> that Hashi's deposit and redemption mechanics should not constitute taxable events under U.S. tax law.Hashi testnet is the beginning of the ecosystem buildout that will ultimately power institutional Bitcoin lending, borrowing, and credit origination on Sui. From custody providers and wallet infrastructure to lending protocols and capital markets participants, builders can now begin validating integrations, testing operational workflows, and preparing production-ready applications before Hashi reaches mainnet.<a href="https://mystenlabs.github.io/hashi/design/ts-sdk" rel="noopener noreferrer nofollow">Developer SDK documentation</a>, an <a href="https://github.com/MystenLabs/minimal-hashi-frontend/tree/main" rel="noopener noreferrer nofollow">integration guide</a>, and <a href="https://mystenlabs.github.io/hashi/design/" rel="noopener noreferrer nofollow">technical resources</a> are available today on <a rel="noopener noreferrer nofollow">sui.io/hashi</a> to help builders begin immediately.<blockquote> “Every major asset class eventually develops deep credit, lending, and liquidity markets,” said Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs, the original contributor to Sui. “Bitcoin is no different. Hashi is giving developers the infrastructure to build those markets onchain with the security, transparency, and programmability institutions have been waiting for.”
</blockquote>Adding Defense: Hashi’s Guardian Layer&nbsp;A key component of the protocol, unveiled for the first time today, is the Guardian Layer, an additional protection mechanism designed to help secure collateral movement and large transactions. The Guardian Layer introduces configurable safeguards that can slow or prevent potentially malicious activity before collateral leaves the system, helping institutions manage operational risk while maintaining the transparency of onchain markets.&nbsp;All BTC collateral (or UTXOs) are secured with a 2-of-2 multisig requiring an MPC signature from the Hashi validators as well as a signature from the guardian, creating an additional layer of protection against malicious activity.These protections, which are a prerequisite to meaningful institutional participation, complement the broader architecture introduced earlier this year, including automated collateral management, verifiable loan terms, and full onchain visibility into collateral health.Expanding the Institutional EcosystemAs Hashi enters testnet, the ecosystem continues to grow with strategic partners spanning DeFi, banking infrastructure, and capital markets. Wave Digital Assets is deepening its commitment to Hashi after first announcing support during devnet. As an institutional manager, Wave has committed to three years of best efforts to prioritize the tokenization of Bitcoin-yield-bearing bond products on the Sui protocol utilizing Hashi, reinforcing its conviction that programmable Bitcoin fixed-income markets are ready for institutional adoption.Hashi’s World-Class Launch Partners&nbsp;These developments fortify an ecosystem that already includes many of crypto's leading custodians, liquidity providers, wallet providers, DeFi protocols, insurance providers, and infrastructure companies.When devnet was announced earlier this year, over 20 day-one launch partners had already committed to building and deploying capital on Hashi, including several of crypto’s heavyweights.Custody &amp; Wallet Access&nbsp;<ul><li>BitGo: Institutional custody clients.</li><li>Blockdaemon, Cobo, Fordefi (by Paxos): Institutional wallet and infrastructure providers.</li><li>Cubist: Cross-chain collateral infrastructure and transfer engine.</li><li>Ledger: Retail/institutional self-custody.</li><li>SwissBorg: UHNW European retail/institutional asset management and wallet interface.</li></ul>Lending, Trading &amp; Liquidity Providers<ul><li>Bullish: Institutional digital asset platform supplying liquidity.</li><li>Cumberland: Leading institutional crypto market maker and liquidity provider.</li><li>Erebor: OCC-chartered bank providing liquidity.</li><li>FalconX: Institutional prime brokerage supplying liquidity.</li></ul>DeFi &amp; Lending Applications<ul><li>AlphaLend, Bluefin, Current, Scallop, Suilend: Native DeFi protocols enabling retail lending and borrowing on day one.</li><li>Fluid: Connecting lending, borrowing, liquidity and more financial products into a capital-efficient system.&nbsp;</li><li>Navi: One of Sui’s largest and longest running DeFi protocols slated for Hashi lending.&nbsp;</li></ul>Vaults &amp; Asset Management<ul><li>Concrete by Blueprint Finance: Yield-infrastructure vault platform.</li><li>Inveniam Capital: Real-World Asset (RWA) yield strategies.</li><li>Wave Digital Assets LLC: SEC-registered investment adviser working with industry partners to facilitate the issuance of Bitcoin-collateralized bonds.</li></ul>Index Oracle, Insurance &amp; Security Auditing<ul><li>CF Benchmarks: Crypto index provider distributing pricing data via oracles.</li><li>Soter Insure: Native, Bitcoin-denominated institutional insurance.</li><li>Asymptotic, Certora, OtterSec: Smart contract security and formal verification auditors.</li></ul>Starting today, developers can build. Institutions can integrate. Infrastructure providers can deploy. Together, they can help shape the financial system Bitcoin has been waiting for. A system where the world's largest digital asset becomes one of the world's most productive forms of collateral.Technical documentation and testnet access configurations are hosted at <a href="https://www.sui.io/hashi" rel="noopener noreferrer nofollow">https://www.sui.io/hashi</a>.&nbsp;About SuiSui, where money moves as freely as messages, is a next-generation Layer 1 blockchain built for scalable finance and global payments. Founded by the core team behind Meta’s stablecoin initiative and powered by an object-centric model, Sui makes assets, permissions, and user data programmable and ownable. Sui’s primitives offer builders everything they need to create high-performance payments and financial applications, including instant agentic payments. Users can learn more at <a rel="noopener noreferrer nofollow">sui.io</a>.&nbsp;Contact:<a rel="noopener noreferrer nofollow">media@sui.io</a> <h5>Contact</h5>Sui Foundation media@sui.io Disclaimer. This is a paid press release. CoinMarketCap does not recommend that any cryptocurrency (bitcoin, ethereum, custom asset) should be bought, sold or held. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.

Hashi Testnet Is Live, Bringing Native Bitcoin Finance One Step Closer to Global Adoption (22 Jul)

Chainwire

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