On July 22, 2026, Hashi testnet officially went live on the Sui blockchain, marking a significant step toward institutional Bitcoin finance. The launch empowers developers, custodians, and infrastructure providers to test Bitcoin-backed financial applications ahead of mainnet, with over 25 ecosystem partners already on board.
Hashi introduces the Guardian Layer, a novel security architecture designed to help institutions safely manage Bitcoin collateral. It uses 2-of-2 multisig and MPC signatures from validators and guardians, creating an extra shield against malicious activity while preserving onchain transparency. This defense-in-depth mechanism is critical for unlocking lending, credit, yield strategies, and institutional-grade products on Sui.
According to law firm Fenwick, Hashi’s deposit and redemption mechanics should not trigger taxable events under U.S. law, removing a major barrier for institutional participation. The project sees over $1 trillion in dormant Bitcoin value as a huge untapped market, and the testnet allows builders to stress-test integrations before the full mainnet rollout.
Notable launch partners include BitGo, Blockdaemon, Ledger, SwissBorg, Cumberland, FalconX, and the OCC-chartered bank Erebor. DeFi protocols like Navi, Scallop, and Bluefin will enable lending from day one, while Wave Digital Assets has committed to tokenizing Bitcoin-yield-bearing bonds on Sui through Hashi.
“Every major asset class eventually develops deep credit, lending, and liquidity markets. Bitcoin is no different,” said Adeniyi Abiodun, CPO of Mysten Labs. Developer resources are now available at sui.io/hashi.
