Sui Foundation Launches Bitcoin Staking Protocol Hashi Testnet With 25+ Institutional Partners

According to ChainCatcher, Sui Foundation and Mysten Labs launched the Hashi bitcoin staking protocol testnet today, enabling BTC to serve as collateral for on-chain lending and credit markets while remaining on the Bitcoin network without wrapping or cross-chain bridging.

Over 25 institutional partners, including BitGo, Cumberland, FalconX, Ledger, Blockdaemon, Bullish, and Sui ecosystem platforms Navi and Scallop, are testing the protocol. Deposits are protected via 2-of-2 multi-signature validation between Hashi's multiparty computation validators and an independent Guardian Layer. Hashi targets the $1.4 trillion Bitcoin market to enhance capital efficiency; mainnet launch date not yet disclosed.