Hashi Builds Bitcoin Finance Layer on Sui With More Than 20 Partners

Hashi is building a Bitcoin-finance protocol for Sui that is designed to let users coordinate Bitcoin (BTC) as collateral without moving the asset from the Bitcoin network.

The protocol’s testnet launched July 22, 2026, with a Guardian Layer based on a 2-of-2 multisignature structure involving Hashi validators and a guardian. The setup is intended to support the protocol’s handling of Bitcoin-backed activity across Sui’s smart-contract ecosystem.

More than 20 institutional partners had signed on by Sept. 2. The group spans custody, liquidity, lending, asset management, insurance and security, positioning Hashi around infrastructure used by institutions as well as decentralized finance users.

Hashi’s proposed applications include lending and borrowing, credit markets, automated vaults and structured products. The protocol is focused on using Bitcoin in financial applications while preserving its position on the Bitcoin network.

On Hashi, Sui smart contracts are intended to coordinate those financial functions, while Bitcoin remains on its native network.

Hashi’s testnet launch follows earlier development work on the protocol and provides the initial environment for its validator and guardian structure.