Hashi Testnet Is Live, Bringing Native Bitcoin Finance Closer to Global Adoption
July 22, 2026 – Grand Cayman, Cayman Islands. Hashi testnet has officially launched on the Sui blockchain, marking a milestone in bringing native Bitcoin finance to mainstream adoption. The testnet allows builders, institutions, and infrastructure providers to develop and integrate Bitcoin-backed financial applications ahead of the mainnet launch.
Bitcoin, with a market cap exceeding $1 trillion, has established itself as the world’s leading digital store of value. However, most of its capital remains dormant. Hashi aims to unlock this potential by enabling secure, programmable credit markets for native BTC on Sui.
A key innovation introduced with the testnet is the Guardian Layer, a defense-in-depth security architecture designed to help institutions manage Bitcoin collateral safely. It employs a 2-of-2 multisig requiring signatures from both Hashi validators and a guardian, adding protection against malicious activity while maintaining onchain transparency.
Institutional participation is further supported by a legal opinion from Fenwick, a leading digital assets law firm, which concluded that Hashi’s deposit and redemption mechanisms should not constitute taxable events under U.S. tax law. This addresses a major concern for institutions moving native BTC onchain.
The testnet launch is accompanied by an expanding ecosystem of over 25 partners, including custodians (BitGo, Ledger), wallet providers (Blockdaemon, Cobo, Fordefi), liquidity providers (Bullish, Cumberland, FalconX), and DeFi protocols (AlphaLend, Bluefin, Navi, Suilend). Wave Digital Assets has committed to three years of best efforts to tokenize Bitcoin-yield-bearing bond products on Sui using Hashi.
Developer SDK documentation, integration guides, and technical resources are available at sui.io/hashi. Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs (original contributor to Sui), stated: “Hashi is giving developers the infrastructure to build those markets onchain with the security, transparency, and programmability institutions have been waiting for.”
The testnet phase allows partners to validate integrations, test workflows, and prepare for mainnet launch, bringing native Bitcoin finance closer to global adoption.