Sui launched the Hashi testnet, opening the platform to developers, institutions, and infrastructure providers building native Bitcoin-based financial applications. The testnet will allow the team to test integrations and prepare the product before the planned mainnet launch.
Hashi is designed to extend Bitcoin beyond its role as a store of value. The protocol aims to support lending, borrowing, credit markets, and yield strategies using Sui’s native BTC.
This release also introduces Guardian Layer, a security architecture designed to help institutions manage Bitcoin collateral while maintaining transaction transparency and programmability. Another issue this project addresses is taxes. Fenwick, a law firm specializing in digital assets, says Hashi’s deposit and redemption mechanisms should not be treated as taxable under U.S. tax law.
Hashi plans to begin testing integrations with custody providers, wallets, lending protocols, and other financial infrastructure. Documentation and technical resources are already available to developers preparing to build on the testnet.
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