Sui, the Layer 1 blockchain, announced that institutional market maker Cumberland, DeFi lending protocol Fluid, and European wealth app SwissBorg have joined its native Bitcoin finance primitive, Hashi, just weeks before the scheduled launch of its global testnet this July.
Hashi aims to unlock over $1.2 trillion in dormant Bitcoin liquidity for decentralized finance, offering a safer alternative to the centralized credit intermediaries that failed in previous cycles. By keeping Bitcoin on its native chain and using Sui smart contracts for verifiable collateral rights, Hashi provides an institutional-grade framework for Bitcoin-backed lending, borrowing, and credit origination.
The three new partners will help prepare for on-chain liquidity provisioning and borrower access: Cumberland will evaluate structural frameworks, SwissBorg plans to connect its high-net-worth Bitcoin holders to Hashi, and Fluid is building institutional lending markets. They join a coalition of existing infrastructure providers, custodians, and protocols like BitGo, Ledger, and FalconX.
Quotes from executives emphasize that Bitcoin's lack of native utility had kept it as an off-chain asset, and Hashi's transparent smart contracts present a breakthrough. The testnet will allow institutions to test integration parameters and stress-test code before the mainnet release.
