Sui Coalition Grows as Cumberland, Fluid, and SwissBorg Join Hashi Ahead of July Testnet

Sui, a next-generation Layer 1 blockchain, has announced that Cumberland, Fluid, and SwissBorg have joined its institutional coalition on Hashi ahead of the July global testnet launch. This move aims to solve the persistent capital inefficiency in crypto by unlocking over $1.2 trillion of immobile BTC into DeFi safely.

Hashi is a foundational primitive setting a new standard for how builders can create bespoke, Bitcoin-backed financial products with risk parameters and loan terms that are fully verifiable onchain. With this infrastructure, institutions, custodians, wallet providers, and developers will be able to freely test the support of Bitcoin-backed lending, borrowing, and credit origination on Sui.

The three new powerhouses join an industry-leading group of infrastructure providers, custodians, and DeFi protocols already working together to build a native Bitcoin financial ecosystem on Sui. Cumberland, Fluid, and SwissBorg will expand the support for institutional liquidity providers, market makers, and digital asset platforms.