Sui's Hashi Ecosystem Gains Institutional Traction Ahead of July Global Testnet

Sui, a next-generation Layer 1 blockchain built for scalable finance and global payments, has announced that Cumberland, Fluid, and SwissBorg have joined its Hashi ecosystem. This development comes ahead of the scheduled launch of Sui's global testnet in July.

Hashi is a foundational primitive on the Sui network that enables the creation of bespoke, Bitcoin-backed financial products with risk parameters and loan terms that are fully verifiable onchain. Its goal is to unlock the productive use of Bitcoin at a scale the industry hasn't seen before.

Cumberland, one of the digital asset industry's largest institutional market makers, joins Hashi to evaluate its structural frameworks and prepare for eventual onchain liquidity provisioning. SwissBorg, a European wealth management app with over one million users, is exploring opportunities to connect its network of European high-net-worth Bitcoin holders and liquidity providers to Hashi.