Cumberland, Fluid, and SwissBorg Join Leading Institutional Coalition on Hashi Ahead of July Global Testnet
Three major firms—Cumberland, Fluid, and SwissBorg—joined Sui’s Hashi ecosystem to enable Bitcoin-backed DeFi products ahead of its July global testnet launch.
Cumberland, Fluid, and SwissBorg have officially joined Sui’s Hashi ecosystem, a native Bitcoin finance primitive designed to unlock over $1 trillion in dormant BTC for DeFi use. The coalition aims to address capital inefficiency in crypto by enabling Bitcoin to serve as collateral while remaining securely on its native blockchain. Hashi leverages Sui smart contracts, which undergo formal verification to ensure cryptographic integrity and programmatic rights management. The infrastructure is set to support lending, borrowing, and credit origination, with a global testnet launch scheduled for July to allow institutional testing and validation.
Paul Kremsky of Cumberland emphasized the need for native Bitcoin utility, stating that Hashi introduces a transparent framework for BTC-backed credit, replacing synthetic alternatives. Cyrus Fazel of SwissBorg highlighted the community’s demand for native Bitcoin lending and borrowing solutions, praising Hashi’s innovative approach. Samyak Jain of Fluid underscored the importance of trusted infrastructure to bring larger capital pools onchain, noting that Hashi’s design ensures Bitcoin remains productive as collateral while enabling deep, capital-efficient credit markets on Sui.
The additions expand the growing consensus that Sui is positioned to become a hub for Bitcoin finance through Hashi. The global testnet, launching in July, will serve as a sandbox for institutional engineers, Sui protocols, and custody partners to test integration, stress-test code under simulated market conditions, and verify cryptographic integrity before the mainnet release. Technical documentation and testnet access will be available at https://www.sui.io/hashi.
Sui, a high-performance blockchain, continues to expand its ecosystem with these new partnerships. The platform has conducted tests to measure peak throughput and time to finality, addressing longstanding friction between systems. Additionally, Sui’s global network of community-led hubs grows with Taipei joining as the latest city, where Sui will serve as a secure repository for authentication certificates, ensuring provable ownership and provenance.